Respected Economist Jeffrey Sachs Says Bitcoin Offers 'Nothing of Social Value'
At a recent conference, the Columbia University professor slammed the cryptocurrency, suggesting it was a counterfeit product.
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March
17, 2021
2 min read
Economist and public policy analyst Jeffrey Sachs didn't mince his words last Sunday when asked for his thoughts on Bitcoin at a conference sponsored by Alma Mater Europaea university in Slovenia and the European Academy of Arts and Sciences, Fortune reports.
Speaking at the "All About People: Digital Transformation in Science, Education, and Art" conference, Sachs, an author and Columbia University professor, told an attendee that he was "not a fan at all of Bitcoin." He added that the cryptocurrency "is not a store of value, is not a medium of exchange" and offers "nothing of social value."