The financial specialist and professor at the New York University – Aswath Damodaran – criticized bitcoin in a recent speech. In his opinion, the primary digital asset “failed miserably” and did not prove itself as a good currency.
Gold and BTC Are Not The Same
The prominent Indian professor – Aswath Damodaran – shared his point of view on bitcoin in the most recent episode of Moneycontrol Masterclass. He asserted that the largest cryptocurrency has failed to classify as a good currency because people disregard it as a payment method for daily and household purchases:
“A good currency, in my view, is one that [is] used to buy coffee, buy your house, buy a car, and on that count, bitcoin has failed, and not just failed, it’s failed miserably.”
Damodaran, also known as “the Dean of Valuation,” believes that crypto enthusiasts ignore bitcoin’s disadvantages only because they have made a lot of money from it.
Speaking about the correlation between gold and the digit
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