The famous Nobel Prize winner in the field of economics, Joseph Stiglitz, criticized the cryptocurrency in an interview with CNBC. He stated the need to impose a ban on cryptocurrencies because of their criminal nature and instability. The Nobel Laureate is confident that the US dollar is much better and more stable, so he sees no need to use cryptocurrency.
He explained that the dollar has all the characteristics that “good currency” should have, while cryptocurrencies don’t have them.
This is not the first time that Stiglitz proposed to abandon digital payments; he previously demanded to ban cryptocurrencies because of significant volatility.
The laureate also noted concern about the fact of close attention to this class of assets. On the other hand, he supported the electronic payment systems, since in his opinion they will contribute to greater transparency in financial markets.
“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better-regulated economy if we had all the data in real time, knowing what people are spending. ” – Joseph said.
In the recent past, Warren Buffett also criticized Bitcoin, calling it “probably rat poison squared”.
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