$BTC: IIF’s Chief Economist Calls Bitcoin “Simply One other Bubble Asset”

On Tuesday (March 14), Robin Brooks, Chief Economist on the Institute of Worldwide Finance (IIF), defined why he doesn’t imagine that Bitcoin is a helpful asset.

The Institute of Worldwide Finance (IIF) is a world group comprising round 400 members from over 60 international locations within the monetary business. The IIF provides its members pioneering analysis, unmatched international advocacy, and the chance to attend premier business occasions that harness its highly effective community.

Its objective is to help the monetary business within the cautious administration of dangers, promote the event of sound business practices, and advocate for regulatory, monetary, and financial insurance policies that align with the wide-ranging pursuits of its members, in addition to stimulate international monetary stability and sustainable financial development. Members of IIF embrace industrial and funding banks, insurance coverage corporations, asset managers, exchanges, sovereign wealth funds, skilled providers corporations, growth banks, hedge funds, and central banks.

Anyway, yesterday, Brooks, who previously has served as a Senior Economist on the Worldwide Financial Fund (IMF), gave a number of the reason why he’s not impressed with Bitcoin:

Based on knowledge from TradingView, at the moment (i.e., as of 11:54 a.m. UTC on March 15), Bitcoin is buying and selling at round $24,732, up 49.7% within the eyar-to-date interval:

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Featured Picture through Pixabay