30 lines
818 B
Markdown
30 lines
818 B
Markdown
# Crypto assets are a bubble
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Crypto assets have the characterstic price behaviour that resembles many other [bubbles](../concepts/bubble.md) and [market manias](../concepts/madness-crowds.md) throughout history. Bitcoin has been characterised as a [speculative](../concepts/speculation.md) bubble by eight winners of the Nobel Prize in economics.
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* Paul Krugman
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* Robert J. Shiller
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* Joseph Stiglitz
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* Richard Thaler
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* James Heckman
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* Thomas Sargent
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* Angus Deaton
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* Oliver Hart
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And by central bank officials:
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* Alan Greenspan
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* Agustín Carstens
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* Vítor Constâncio
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* Nout Wellink
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* Mark Carney
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And several notable investors have also described it as a bubble:
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* Warren Buffet
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* George Soros
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## References
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* [@blanchard_bubbles_1982]
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* [@caferra_bitcoin_2021]
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* [@fry_negative_2016]
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* [@tonelli_internet_2022] |