Nobel Prize-winning economist Robert Shiller now admits he ultimately “doesn’t know what to make of bitcoin.”
In a new interview with CNBC, Shiller gives one of the most broad predictions on digital currencies yet, saying Bitcoin will likely totally collapse, but could still be around in 100 years.
“It reminds me of the Tulip mania in Holland in the 1640s, and so the question is did that collapse? We still pay for tulips even now and sometimes they get expensive. (Bitcoin) might totally collapse and be forgotten and I think that’s a good likely outcome, but it could linger on for a good long time. It could be here in 100 years.”
Shiller doesn’t mention blockchain technology, the central technology behind bitcoin and cryptocurrencies at large.