Harvard Professor Reckons With Bitcoin’s Unexpected Rise

Harvard economist Kenneth S. Rogoff, known for his work with the International Monetary Fund and a prominent voice in economic thought, has admitted that he misjudged Bitcoin’s trajectory. In 2018, Rogoff predicted a sharp decline of Bitcoin’s value, forecasting it to reach only $100 within ten years. He was notably surprised by Bitcoin’s soaring price exceeding $100,000 in 2024. This unexpected performance challenges his earlier forecasts and demonstrates the cryptocurrency market’s rapid growth.