Rogoff Reflects on Bitcoin Success, Asia Sees Growing Crypto Adoption

Harvard economist Kenneth Rogoff admitted to an underestimation of Bitcoin’s rise, attributing it to both underestimated underground market use and regulators’ conflicts of interest. His misjudgment comes as Asian wealthy investors are increasingly allocating 5% of their portfolios to crypto assets, driven by stronger markets, clearer regulations, and growing institutional demand in the region. Meanwhile, Fed Chair Powell is expected to maintain a neutral stance at Jackson Hole, emphasizing data-driven policy decisions for upcoming FOMC meetings, which will depend on jobs and inflation reports.