Call it doom and gloom with a bit of trash talk.
Nobel Prize-winning economist Joseph Stiglitz says Bitcoin will be "regulated into oblivion."
Stiglitz, also a former World Bank economist, made the prediction in an interview with Financial News, in which he also predicted bitcoin may be worth as little as "$100 in 10 years."
Stiglitz expects a major regulatory crackdown on cryptocurrencies, partly because of their secretive nature and use in criminal activities.
Now a professor at Columbia University, Stiglitz told Financial News that "people in power will move to regulate anonymous transactions."
Stiglitz has previously called bitcoin a "bubble" that serves no useful function, and should therefore be "outlawed."
