"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. In other words, Bitcoin currently exists almost exclusively as a speculative tool.
So, is the Bitcoin bubble about to burst?
I don't care a lot what some people have to say. They didn't get it earlier and don't now. Bitcoin is a currency but with limited use case as it stands today. If something changes it could have many practical uses, but the blockchain has limits and limitations. Scalability wasn't Bitcoins feature, it could just reach a certain small adoption level, after that it fails as fees take over. Unlike the fiat money payment processors where fees are lowered as scalability is achieved, the opposite is happening with Bitcoin. It is not to be used as a currency at all.