"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 understand this kind of people as there are already places for using Bitcoin as a payment method. We can even buy a car with it now thanks to Tesla. And I believe the number of places will continue to increase like now. So, it is not just an investment tool. Maybe years ago it was, but not anymore.
Those people are just trying to play down the accomplishments of bitcoin, there are many reasons for this, they could simply be jealous they missed the best opportunity to make money during the last years, maybe they benefit from the current economic system and they want the current one to remain in place, maybe they are just that ignorant or they are trying to scare people away from this market, but whatever the reason it does not change the fact they are wrong.