During an interview with Bloomberg, Nobel Prize-winning economist Joseph Stiglitz said Bitcoin should be outlawed after the cryptocurrency broke the $10,000 USD mark. Noting the unprecedented surge in the last few weeks, the famed economist and Columbia professor noted, “Bitcoin is successful only because of its potential for circumvention, lack of oversight.” Additionally, Stiglitz says the current Bitcoin bubble will provide exciting and interesting times, but in the long run it does not serve any socially useful function. Listen to the Nobel Prize-winning economist Joseph Stiglitz talk about the cryptocurrency surge above and let us know what you think.
Also, learn more about the WhopperCoin cryptocurrency Burger King recently launched to modernize its fast food transactions.
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- Alexander Demianchuk/Getty Images
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