Bitcoin is a 'collectible that doesn't behave like a collectible,' Damodaran suggested.
Bitcoin is a “collectible that doesn’t behave like a collectible,” Damodaran suggested.
Interestingly, he labeled it “millennial gold” in August last year, predicting it could gain global acceptance should it become less volatile.Professor Damodaran, also known as “the Dean of Valuation,” recently expressed skepticism regarding bitcoin’s potential and current status. He views it as a currency that nobody uses and a “collectible that doesn’t behave like a collectible.
“A good currency, in my view, is one that [is] used to buy coffee, buy your house, buy a car, and on that count, bitcoin has failed, and not just failed, it’s failed miserably.”
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