Here’s How A Famous Professor Responded To Bitcoin Market
Aswath Damodaran, a professor of finance at the NYU, has articulated his confidence that bitcoin is a currency rather than an asset in a new blog post.
Mr. Damodaran stated in the column: “I don’t believe Cryptocurrencies are now or ever will be an asset class,” or that they will change the “fundamental truths of risk, investing and management.”
“Bitcoin is not an asset, but a currency, and as such, you cannot value it or invest in it. You can only price it and trade it,” he said.
Notably, Mr. Damodaran further disagreed with JPMorgan Chase CEO Jamie Dimon’s latest remark that bitcoin is a “fraud.”
Damodaran in his previous statement back in July also said that cryptocurrencies were quickly becoming a preferred alternative to gold for people who don’t trust traditional fiat currencies.
