Nobel laureate Robert Schiller is somewhat confident that the Betquin will collapse, but he is not entirely sure of the date of the collapse. "I am a professor at Yale University and a Nobel laureate for economics in 2013," said Schiller, "That the Pitcuin is likely to" completely collapse and forget ", although it may last for 100 years.
Schiller added:
"What happens in Pitcuen now reminds me of what happened in the period of Tulip mania in the Netherlands in the 1940s, so the question is: will we continue to pay the high price for the collapse that happened in that period? Betquin may completely collapse and forget, and I think this is probably a good result although it may last for a long time, up to 100 years. "
Schiller pointed to the obsolete comparison with the so-called "Tulip Bubble", saying that the Betquin has no value outside common compatibility which has real value which makes it different from gold and other commodities.
"There is no value to the protein at all unless there is some common consensus that it is of value. Other things like gold are at least valuable if people do not see them as an investment, he said, adding that he does not know what to conclude as a benefit for the petrochemicals in the end.
Notably, this is not the first time that Schiller has given bearish forecasts to Pitcullin. In 2014, Bitquin was called "an amazing example of the bubble," adding that it was back to the Dark Ages. Last month, Schiller saw that the "mythology" of the Pitcairn would be "a wonderful story if it really is real and predicted that although it may not immediately crash to zero, it will definitely go down considerably.
Schiller was not the first Nobel laureate to dampen Hamas's annual lunar aspirations for Pitcairn investors. Vozov Stiglitz, who won the prize in 2001, argued that digital currencies "should be banned" because in his opinion does not serve any socially useful job.