- Robert Shiller believes crypto is driven by social excitement.
- Shiller is concerned that a bubble is forming around markets like housing and crypto.
- Also, Shiller called the crypto source of value ambiguous.
Robert Shiller, a Nobel prize Economist and Yale Professor, recently shared his thoughts on cryptocurrency. Shiller called crypto a “very psychological market” that he believes creates a “wild west mentality”.
The economist shared these sentiments during a recent interview with CNBC’s Trading Nations. Shiller also noted that he has thought about buying bitcoin for ‘the experience’ and believes many investors have bought it for the thrill of the experience. Shiller noted,
“That’s a very psychological market. It’s impressive technology but the ultimate source of value is so ambiguous that it has a lot to do with our narratives rather than reality.”...This article was first published on coinquora.com