bitcoin by pixabay

This Economist Saw the Rise of Bitcoin Way Back in the 90s

Youtube user Kamal Glover uploaded this dated video of the American economist Milton Friedman giving an interview in 1999 about the emergence of bitcoin. Well, cryptocurrencies had technically existed back then, albeit for a little while.

The 1976 Nobel Memorial Prize in Economic Sciences recipient nailed the power and influence cryptocurrencies would have and take away from governments and give to the people.

Suddenly the hottest investment in the world, Bitcoin has seen its price getting higher and higher recently. The cryptic online currency has been surprising and defying skeptics’ opinions that bitcoin is in bubble territory.

Milton is well known for his extensive research on consumption analysis, monetary history and theory, and the complexity of stabilization policy with other noted economists George Stigler and others.

He was also among the intellectual leaders of the second generation of Chicago price theory, a methodological movement at the University of Chicago’s Department of Economics, Law School, and Graduate School of Business from the 1940s onward.

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