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Why Nobel laureate Richard Thaler follows Warren Buffett's advice to avoid bitcoin

Updated : July 18, 2018 11:30 AM IST

Thaler notes that although the US has taken action to make big banks more stable since the 2007 financial crisis, he doesn't understand why people would invest in a volatile currency like bitcoin.
Though it was once valued over $19,000 at its record high, Thaler says he doesn’t think “that the intrinsic value of bitcoin is worth thousands of dollars."
In 2014, Buffett also warned people to stay away from bitcoin, calling it a “mirage".
Why Nobel laureate Richard Thaler follows Warren Buffett's advice to avoid bitcoin
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