[Harvard Professor Rogoff Admits to Underestimating Bitcoin's Value] According to a report by Jinse Finance, Kenneth Rogoff, an economics professor at Harvard University and former chief economist of the International Monetary Fund, reflected on his prediction error from 2018. At the time, he predicted that Bitcoin was more likely to be worth $100 rather than $100,000 within ten years. However, Bitcoin's actual price has now surpassed $113,000, marking a more than tenfold increase since 2018. Rogoff stated that he was "overly optimistic about the U.S. implementing reasonable cryptocurrency regulations" and admitted to underestimating Bitcoin's role in the $20 trillion global underground economy, which has provided support for Bitcoin's price. He also criticized the "obvious conflict of interest" between regulators and cryptocurrencies, noting that regulators hold hundreds of millions or even billions of dollars in cryptocurrencies without facing any consequences.
