Bitcoin ‘Maybe Is a Partial Store of Value,’ Concedes Nouriel Roubini

As Cointelegraph reported, “Economist Nouriel Roubini — also known as ‘Dr. Doom’ for his prediction of the 2007-2008 financial crisis and a notorious critic of cryptocurrencies — has conceded that Bitcoin (BTC) is ‘a partial store of value.’

“Roubini made the concession during a panel together with a host of high-profile crypto industry figures such as Brock Pierce, Bobby Lee and Tone Vays — during the CC Forum 2019 conference in London on Oct. 16.

“As Tone Vays suggested in a tweet on Oct. 17, Roubini’s admission arguably represents ‘baby steps’ forward in his stance towards cryptocurrencies — notwithstanding the fact that Roubini swiftly followed his comment with a suite of criticisms:

“’Maybe Bitcoin is a partial store of value but it’s not a unit of account, it’s not a means of payment, it’s not scalable […] in spite of its rally earlier this year, it’s lost 60% in value since it’s peak, so I don’t see it going anywhere frankly.’

“’I’d take the U.S. dollar over any one of your s***coins,’ he told BTCC founder Bobby Lee, arguing that financial innovation, albeit imminent, would instead come from implementations of AI, Big Data and IoT technologies in the fintech space…”

Continue to read the full article, and interview, at Cointelegraph.

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