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Aswath Damodaran Declares Bitcoin A Failure

 Where there has been immense support for crypto use from famous personalities, there are others who consider Bitcoin a failure. One such example is valuation expert Aswath Damodaran. According to him, an ideal currency can be defined as one that can be used for purchasing items, and in this context, Bitcoin came as a failure. 


It seems Professor Aswath is not at all convinced with the global famed crypto coin and calls it a failure in lacking the traits of a perfect currency that can be best used for buying a car or abode or even a coffee. During one of the episodes of the financial news platform in India, Aswath, an acclaimed expert in the field of valuation and markets, analyzed the weightage of cryptocurrencies. 


Bitcoin Not A Good Currency, Says Aswath


Aswath put up a question on the credibility of the dominant cryptocurrency Bitcoin, saying that if it is considered such a good currency, then why aren’t there many transactions done by people? When he asked Bitcoin enthusiasts about it, they had this notion that Bitcoin is the best currency as it has paved ample money for them, but for Aswath, it did not seem to have traits of a good currency. 


Final words


Well, everyone has their perception of a particular thing. If Professor Aswath does not consider Bitcoin to be a good currency in terms of use, then he may be right in his way. To know about new price updates of XTZ, keep following the latest Tezos news on the Cryptoknowmics.



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