Bitcoin Buffoonery: Harvard’s Hapless Economist Strikes Again! 🎭

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Ah, the sweet sound of hindsight clanging like a gong in the ears of Kenneth Rogoff, Harvard’s very own economics maestro. The man who once prophesied that Bitcoin would plummet to $100 rather than soar to $100,000 has finally emerged from his ivory tower to explain himself on X (formerly Twitter). And darling, it’s quite the spectacle. 😅

It seems our dear professor underestimated just how much regulators enjoy playing hide-and-seek with innovation. “Sensible” regulation? Oh, Kenneth, darling, you might as well have asked for sensible behavior at a masquerade ball. 🎩

$100,000 Instead of $100: A Comedy of Errors

In March 2018-oh, what innocent times those were!-Rogoff graced CNBC with his presence and declared that Bitcoin was far more likely to hit rock bottom at $100 than skyrocket to $10,000 within a decade. How quaintly wrong he was! 🚀

He painted Bitcoin as little more than a playground for money launderers and tax evaders, dismissing its potential as a transaction medium. But alas, here we are in 2025, where Bitcoin trades at a dazzling $113,260 after flirting with a record high of $124,128. One can only imagine the champagne corks popping in crypto land while Rogoff sips tepid tea alone. 🍾📉

The Art of Misjudgment: Breaking Down Rogoff’s Terrible Call

In true Cowardian fashion, Rogoff now admits he was “far too optimistic” about America embracing sensible regulation. Sensible regulation, mind you-a phrase so elusive it may as well be whispered by ghosts in an English country house. 👻

He also failed to foresee Bitcoin’s rise as a competitor to fiat currencies. Truly shocking, considering even your eccentric Aunt Mildred has started talking about hodling. Lastly, he never anticipated regulators cozying up to crypto despite glaring conflicts of interest. Bless him; perhaps he thought they’d all suddenly develop a conscience. 🙈

What’s Next for Bitcoin? Drama, Darling, Always Drama!

Meanwhile, commodity trader Peter Brandt-no stranger to theatrics himself-has chimed in with his two cents. Initially giving Bitcoin a 30% chance of peaking, he’s since revised his odds upward after the recent dip below $113,000. It seems Bitcoin is having a momentary wobble, but let’s not pretend this is the final act. 🎭

So, will Bitcoin continue its ascent or take a dramatic nosedive? Only time will tell, my dears. But if there’s one thing we’ve learned from Rogoff’s misadventures, it’s that predicting the future is best left to fortune-tellers and overly confident economists. 🔮

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2025-08-20 00:00