RATE Group | Bitcoin ‘Maybe Is a Partial Store of Value,’ Concedes Nouriel Roubini
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Bitcoin ‘Maybe Is a Partial Store of Value,’ Concedes Nouriel Roubini

17 Oct Bitcoin ‘Maybe Is a Partial Store of Value,’ Concedes Nouriel Roubini

Posted at 12:04h in Bitcoin News by

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Economist Nouriel Roubini — also known as “Dr. Doom” for his prediction of the 2007-2008 financial crisis and a notorious critic of cryptocurrencies — has conceded that Bitcoin (BTC) is “a partial store of value.”

Roubini made the concession during a panel together with a host of high-profile crypto industry figures such as Brock Pierce, Bobby Lee and Tone Vays — during the CC Forum 2019 conference in London on Oct. 16.

“Maybe Bitcoin is a partial store of value”

As Tone Vays suggested in a tweet on Oct. 17, Roubini’s admission arguably represents “baby steps” forward in his stance towards cryptocurrencies — notwithstanding the fact that Roubini swiftly followed his comment with a suite of criticisms:

“Maybe Bitcoin is a partial store of value but it’s not a unit of account, it’s not a means of payment, it’s not scalable […] in spite of its rally earlier this year, it’s lost 60% in value since it’s peak, so I don’t see it going anywhere…

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