A world-renowned economic historian who was previously skeptical on Bitcoin now thinks that it has a bright future. The expert also holds that its distinction is going to make it appealing to investors in the upcoming years.
Bitcoin’s Bright Future
Niall Ferguson, a well-known economic historian and recognized author, spoke at The Australian Financial Review Business Summit which took place on March 5th and 6th in Sydney. The expert, who previously thought that Bitcoin (BTC) 00 is a “complete delusion,” now holds that it has a very bright future, stating:
I was very wrong, wrong to think there was no use for a form of currency based on blockchain technology […] I don’t think this is a complete delusion.
Ferguson revealed that he first considered Bitcoin to be a delusion when his son suggested that he buy some five years ago. Later on, when the price of the cryptocurrency surged in late 2017, the historian says that he watched in despair.
He also thinks that it is very important to understand that, despite the…