Harvard Professor Recounts How He Underestimated Bitcoin’s Success

Renowned economist Kenneth Rogoff, previously predicting Bitcoin would plummet to $100, has admitted his early estimates of the cryptocurrency’s future were deeply flawed. Now reflecting on the impressive growth of Bitcoin in the past years, he points to three key underestimates: 1) U.S. crypto regulation, which was more inconsistent and reactive than expected; 2) Bitcoin’s strength as a competitor to fiat currencies; and 3) its resilience against economic instability. Rogoff now recognizes how Bitcoin has evolved and thrived despite facing regulatory challenges and market volatility.