John Hopkins Economist: Bitcoin Is Still “Highly Unstable” and “Speculative”

Bitcoin has undergone a strong surge since the March lows, rallying as high as $16,000 from $3,500. Stepping back even further, Bitcoin’s performance is even more impressive. Even still, the cryptocurrency has its critics. Professor Steve Hanke of John Hopkins University, who is also part of the Cato Institute, says that Bitcoin remains a “highly unstable” and a speculative asset. Hanke has been a skeptic of Bitcoin for a while, having made similar comments to the one in the past. BTC Remains “Highly Unstable” Bitcoin has undergone a strong surge since the March lows. The cryptocurrency has rocketed from the $3,500 range to $15,500 over that time frame, meaning a rally of 350% has taken place. Stepping back even further, Bitcoin’s performance is even more impressive, outperforming basically any other asset class in existence. Even still, the cryptocurrency has its critics. Professor Steve Hanke of John Hopkins University, who is…

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