A lottery ticket is something a person buys on a whim on the fanciful hope that he or she can overcome astronomical odds to receive a sudden windfall of treasure and wealth. The fact that Rogoff would even make a casual association between a lottery ticket and bitcoin reveals what a dunderheaded simpleton he is. What a joke!

With each passing year, the crypto market is expanding and the utility of bitcoin and blockchain technology are becoming more and more self-evident. And this is really just the beginning still. By Rogoff's logic, we might as well say that investing in publicly traded stocks is a "lottery ticket" because, you know, a company can go bankrupt and leave the investors high and dry. It could happen, but if you've educated yourself, then you'll known whether it's a reasonable risk/reward or not.