Jan 26, 2018 20:32:01 (IST)
Raghuram Rajan on bit-coin
"Certainly there are some places where we have seen a bubble-like feeling. Bitcoin is one example, here is the, I would say, almost the classic definition of bubble. It has no real use; even the transaction use we seem to talk about seems to be, you know, very costly and slowing down. Obviously the underlying technology is useful but we have seen this being bid up to near 20,000 levels."
"Certainly there are some places where we have seen a bubble-like feeling. Bitcoin is one example, here is the, I would say, almost the classic definition of bubble. It has no real use; even the transaction use we seem to talk about seems to be, you know, very costly and slowing down. Obviously the underlying technology is useful but we have seen this being bid up to near 20,000 levels."