Amid the increasing popularity of cryptocurrency and Bitcoin per se, a lot of opposing reviews and comments over it.
One of the latest comment was given out by no other than the Nobel prize-winning economist Robert Shiller, he has said bitcoin will not be a “permanent feature” of the financial world, as politicians indicated that a clampdown on cryptocurrencies was coming.
Speaking at the World Economic Forum in Davos on Thursday, Shiller described bitcoin as a “really clever idea”.
But the Nobel awardee although was impressed with the technology behind it, he was concerned that it had “gone viral as a currency”.
“I tend to think of bitcoin as an experiment. It is an interesting experiment, but it’s not a permanent feature of our lives,” said Shiller, who has previously warned that the bitcoin price could collapse.
“We are over-emphasising bitcoin, we should expand it out to blockchain, which will have other applications,” he added.
It can also remembered that UK leader Theresa May said in Davos that she was concerned that criminals were taking advantage of digital currencies, which can be used to anonymously transfer funds.
“In areas like cryptocurrencies, like bitcoin, we should be looking at these very seriously,” May told Bloomberg.
Recently, South Korea has announced a crackdown on digital currencies. From next month, people will be banned from using anonymous bank accounts for cryptocurrency trading.