The Nobel prize-winning economist Robert Shiller 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 hailed bitcoin as a really clever idea. But although he 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 its 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.