Harvard professor Rogoff reflects on early prediction mistakes and admits to underestimating BTC value

ChainCatcher news, according to CoinDesk, Harvard University economics professor and former chief economist of the International Monetary Fund Kenneth Rogoff reflects on his prediction error from 2018. At that time, he predicted that Bitcoin was more likely to be worth $100 than $100,000 within ten years, but now the actual price of Bitcoin has surpassed $113,000, more than a tenfold increase since 2018.

Rogoff stated that he was "too optimistic about the U.S. establishing reasonable cryptocurrency regulations," and he underestimated Bitcoin's role in the global $20 trillion underground economy, which has supported Bitcoin's price. He also criticized the "obvious conflict of interest" between regulators and cryptocurrencies, stating that regulators hold hundreds of millions or even billions of dollars in cryptocurrencies without facing any consequences.