A renowned Nobel laureate in the field of economics, Joseph Stiglitz has recently criticized cryptocurrencies. He stated that he intends to shut down the crypto for its dark nature and poor stability.
The Nobel Laureate is confident about the US Dollar as a good and stable currency. Hence, there is no requirement of switching to cryptocurrency.
He further explained that the USD has all the characteristics a good currency should have. On the other hand, crypto does not own these attributes yet. Therefore, he asserted that we should fold crypto.
This is not the only time that Stiglitz has shredded crypto, he has been demanding a ban on crypto owing to its endless price variations.
He stated that he feels disturbed by the amount of attention crypto is currently getting. On the other hand, he supported electronic payment systems as they will introduce more limpidity in the financial markets.
He added that crypto is still related to dark platforms regardless of entering into a maturation period.
In the near past, Warren Buffett also criticized Bitcoin calling it a seashell he also called Bitcoin a device for gambling that produces nothing.
However, the good news is that no amount of hate can result in the shutting down of crypto and BTC users can avoid any blocking events easily.