Bitcoin has been characterized as a speculative bubble by eight laureates of the Nobel Memorial Prize in Economic Sciences: Paul Krugman, Robert J. Shiller, Joseph Stiglitz, Richard Thaler, James Heckman, Thomas Sargent, Angus Deaton, and Oliver Hart; and by central bank officials including Alan Greenspan, Ben Bernanke, Janet Yellen, Agustín Carstens, Vítor Constâncio, and Nout Wellink. The former president of the Dutch Central Bank, Nout Wellink, has told students at the University of Amsterdam that the hype around bitcoin is worse than his country's Tulip mania in the 17th century. Instead of the “nothing” Nout Wellink was referencing that each Bitcoin gets you, people now view the cryptocurrency as a sovereign store of value and borderless means of transfer. All of this is possible without the requirement of a third party or intermediary like the Central Bank Wellink worked at. Unlike tulips that can be grown and grown to a farmer’s desire, only 21 million BTC ... The idea that it [Bitcoin] has some huge intrinsic value is just a joke, in my view.” ‘At least you got a tulip’ Nout Wellink, former president of the Dutch Central Bank, famously said of Bitcoin, “This is worse than the tulip mania… At least then you got a tulip [at the end], now you get nothing.” That view still holds with many top investors. Just a week ago, Saudi Prince Al ... The former president of the Dutch Central Bank, Nout Wellink, has said that bitcoin hype is worse than the so-called “tulip mania” of the 17th century. "At least then you got a tulip,” he said.
[index]          
Earlier this month, former Dutch central bank president Nout Wellink compared rising bitcoin exchange rates to the Dutch tulip craze of the 17th century, during which the value of certain tulip ...