Former chief economist of the International Monetary Fund (IMF) Kenneth Rogoff admitted that his forecasts about the collapse of bitcoin to $ 100 were insolvent.

The Harvard University’s economist mentioned his performance in the Squawk Box program on the CNBC channel in March 2018 – then he said that Bitcoin would more likely fall to $ 100, which will grow to $ 100,000. The economist suggested that the fall of the Bitcoin course provoke strict requirements for regulators. However, after the victory of Donald Trump in the November elections, in December 2024, Bitcoin exceeded a round mark of $ 100,000. From the date of the Rogoff forecast, in seven years, Bitcoin took off by more than 1000%.

The economist complained that he was too optimistic in his hopes that the United States would come to common cryptocurrency regulation. Rogoff made it clear that he is still skeptical of cryptocurrencies. He was surprised that now Bitcoin has become a means of protection against inflation in developing countries whose local currencies are subject to devaluation.

“I did not understand how Bitcoin could compete with fiat currencies and become a preferred means of conducting transactions. I did not expect that the regulators, especially the American authorities, would be able to hold hundreds of millions in cryptocurrencies with impunity, if not billions of dollars, without any consequences, ”Rogoff wrote on social networks Kh.

Bitwise investment director Matt Hawgan explained to him that bitcoin is a decentralized project that is developing thanks to the actions of people, and not centralized organizations. It was this that helped Bitcoin to achieve large -scale success, Hawgan emphasized.

In May, Rogoff said that cryptocurrencies are increasingly used in the world shadow economy and for tax evasion, undermining the influence of the US dollar.