Nobel Laureate Eugene Fama Predicts Bitcoin Will Go Zero in 10 Years

Eugene F. Fama, a Nobel laureate in economics who has been hailed as the "father of modern finance", predicted on the Capitalisn't podcast that bitcoin would go to zero within 10 years. He argued that a blockchain-based financial system requires too much computing power to be sustainable. He said cryptocurrencies violate the basic rules of a medium of exchange and their value is highly volatile. He also questioned bitcoin's positioning as "digital gold", arguing that it would be worthless without practical use.