Famed Yale economist and former Morgan Stanley analyst, Stephen Roach, had some choice words for Bitcoin yesterday, saying “this is a toxic concept for investors. This is a dangerous speculative bubble by any shadow or stretch of the imagination. I’ve never seen a chart of a security where the price really has a vertical pattern to it. And bitcoin is the most vertical of any pattern I’ve ever seen in my career.”
Sorry Bitmorons. Mr. Roach has spoken and now your days are numbered.
He sums up the future of Bitcoins nicely:
“Like all bubbles, they burst,” Roach said.
“They go down, and the one who’s made the last investment gets hurt the most, there’s no question about it.”
BTC is trading at new highs today, $11,870 +2.3%.If you enjoy the content at iBankCoin, please follow us on Twitter