Famous economist Steve Hanke, Professor at Johns Hopkins University: “We know the price of Bitcoin (BTC) but we do not know its value, it is probably zero.” said.
Speaking to Yahoo Finance about Bitcoin, Hanke said that while exchange rates can be decided by the ratio of fiat currencies such as dollars and pounds to each other. BTC/USD He said that the exchange rate did not comply with the logic.
Stating that the price of a shopping cart can be calculated with national currencies such as dollars, the economist said that since most sellers in the world do not accept crypto currency in transactions, bitcoin He mentioned that it is difficult to calculate a shopping cart prepared in cash.
In Hanke’s speech:
The value of fiat currencies such as dollars, euros and pounds; of nation states from your support, the majority of people hear them from the level of trust and the exporting state. to the authority determined by trust.
said.
Many, such as Michael Saylor, CEO of MicroStrategy bitcoin lover, bitcoin “digital gold” that and can protect against inflation risk thinks it’s a digital asset.
Colleague Milton Friedman In an interview in 1999: “I think a reliable system will be developed where you can instantly transfer money from A to B over the Internet.” When asked about his predictions, Steve Hanke said:
“Most of the money produced by banks is already is electronic and I know that as the internet continues to evolve, even more will be electronic.
said.