Harvard Economist Got Bitcoin Wrong-Now Traders Eye Crypto’s True Drivers

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Bitcoin’s skyrocketing success is totally flipping the script, making even Harvard’s smartest (former) crypto skeptic eat their words.

Oops! Harvard Professor Admits Bitcoin Wasn’t Just a Fad-Shocking New Revelations!

Well, well, well. It turns out that Bitcoin’s rocket-fueled rise is making even the so-called “experts” look like they were reading a different script. Enter Kenneth Rogoff, the Maurits C. Boas Professor at Harvard (I mean, this guy was the chief economist at the IMF, so no pressure, right?). On August 19, this top-tier brainiac took to X (yes, that’s what we’re calling Twitter now) to admit he was *slightly* off on his 2018 prediction about Bitcoin.

Here’s the kicker: back in the day (aka 2018), Rogoff had the nerve to say Bitcoin would be worth, at best, $100. Like, not even $100K, people. Just $100. He was wrong, but hey, who hasn’t had a prediction go wildly astray? (We’ve all been there, right?)

So what changed? Well, it turns out he missed a few things. A few *key* things. Like, the fact that Bitcoin wasn’t just going to be some passing trend, or a digital piece of Monopoly money. Here are three *major* things he didn’t see coming:

“What did I miss? I was way too optimistic about the U.S. finally getting a clue on cryptocurrency regulations. Like, why would the government want to help tax evasion and crime? Oh, wait…”

Oh, yeah, about that: who knew regulators would have such a *chill* approach to the whole “helping criminals hide money” thing? 😂

But wait, there’s more! Rogoff also pointed out that he *totally* underestimated Bitcoin’s ability to take on fiat currencies and become the new star of the global underground economy. Because, you know, sometimes people like to hide their cash in places that are a little harder for the IRS to reach. 🤷‍♂️

At the time of his last, *very* confident statement, Bitcoin was hovering around $113,500 (with a brief flirtation with a record-breaking $124,500). Now? It’s taking a breather, consolidating, like a hungover influencer after a night out. #BitcoinLife

And last but not least, the Harvard guru’s final *facepalm* moment: He didn’t predict that regulators themselves would be sitting on a giant mountain of crypto cash-without anyone batting an eye. Oh, the irony.

“And I did not foresee regulators, especially the top dog, casually holding hundreds of millions in crypto without a single eyebrow raise. I mean, *obviously* there’s no conflict of interest there. None at all.”

So, despite Rogoff’s early *major* doubts, the world has changed. U.S. regulators are finally *getting it*, with initiatives like “Project Crypto” and “Crypto Sprint” aimed at making the U.S. the crypto capital of the world. The SEC and CFTC are loosening up, trying to avoid missing out on this wild digital asset party. It’s like they finally realized that if they don’t get on board, they might just miss the boat. 🚢💸

Will the rest of the world follow? Who knows, but one thing’s for sure: Bitcoin isn’t just a passing trend. It’s here, it’s real, and it’s making people like Rogoff reconsider their life choices. 🍿

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2025-08-21 03:58