Editor’s note: This article was first published in December 2013 and reports news from 4 December 2013, when Alan Greenspan gave an interview to Bloomberg TV; the events described were current at that time.
In an interview on Bloomberg TV, former Fed chairman Alan Greenspan briefly answered several questions about Bitcoin. The presenter did not beat around the bush and asked him straight out whether he thought Bitcoin was a bubble.
Greenspan said yes. He added that you really have to stretch your imagination a long way to work out what Bitcoin’s intrinsic value is, and that he had not been able to do it. But if the question is whether Bitcoin is a bubble, the answer is yes: it is a bubble.
Unsurprisingly, the reaction on social media has been mixed, especially given that Greenspan never actually used the word “bubble” for the “housing bubble”.
Still, one question remains unanswered: what is a bitcoin worth? What would its target price be? And another, no less important question:
How is it possible that $100 million in bitcoins can be stolen (one of the biggest heists in history) without it even making the television news?
Featured image: Marion S. Trikosko, Public domain, via Wikimedia Commons.
