Four years have passed since Bank of England warned that Bitcoin could become ‘worthless’.
"Simple game theory tells us that a process of backward induction should, really, at some point, induce the smart money to get out. And were that to happen, investors really should be prepared to lose everything. Eventually.”
Since that warning, Bitcoin has doubled against the pound. Reality tells a different story; it’s sterling that’s becoming worthless!
https://www.theguardian.com/technology/2021/dec/14/bitcoin-could-become-worthless-bank-of-england-warns
"Simple game theory tells us that a process of backward induction should, really, at some point, induce the smart money to get out. And were that to happen, investors really should be prepared to lose everything. Eventually.”
Since that warning, Bitcoin has doubled against the pound. Reality tells a different story; it’s sterling that’s becoming worthless!
https://www.theguardian.com/technology/2021/dec/14/bitcoin-could-become-worthless-bank-of-england-warns