Bitcoin ‘Is here to stay’, says former US Treasury Secretary Larry Summers

posted about 1 month ago
Former U.S. Treasury Secretary Dr. Lawrence H. Summers, one of America’s most prominent economists, (a Harvard professor, and worked in the Clinton and Obama administrations, World Bank) responded to the question of whether Bitcoin is a bubble.

This was his reply:
“I’m not going to predict its fluctuations over the next six months, but I think some institutions like it, is here to stay. I don’t think that the whole thing is going to collapse. I think that having run up and then run way down, and then move back, it looks much more resilient, and therefore I think people are going to move towards it, and as people move towards it, given the finiteness of its supply, that’s going to be a factor working to raise prices.“
Tags: bitcoin, news, opinion