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".
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more