Paul Krugman

@paulkrugman ↗

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Last Checked June 5, 2021

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Wed May 19 17:44:35 +0000 2021

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Paul Krugman @paulkrugman

BTC isn't a new innovation; it's been around since 2009, and in all that time nobody seems to have found any good legal use for it. It's not a convenient medium of exchange; it's not a stable store of value; it's definitely not a unit of account 2/ — PolitiTweet.org

Posted May 19, 2021

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Paul Krugman @paulkrugman

I don't write much about Bitcoin because there aren't any fundamentals to discuss. 1/ — PolitiTweet.org

So. Bitcoin fell 53% in five weeks, and then it rallied 35% in four hours. Two observations for now: 1) Nobody in t… https://t.co/QHINZk5JaL

Posted May 19, 2021

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Paul Krugman @paulkrugman

Its value rests on the perception that it's a technologically sophisticated way to protect yourself from the inevitable collapse of fiat money, which is coming one of these days, or maybe one of these centuries. Or, as I say, libertarian derp plus technobabble 3/ — PolitiTweet.org

Posted May 19, 2021