Economist Paul Krugman sees no threat to markets from cryptocurrencies

Krugman called the main risk as to the low awareness and education of novice investors

31.01.2022 - 09:10

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1 min

What’s new? Nobel Prize winner Paul Krugman published a piece in The New York Times (NYT) in which he considered the impact of cryptocurrencies on the global economy. According to the economist, the market volume is currently not high enough to cause serious problems.

The full material on the NYT website

“No, crypto doesn’t threaten the financial system — the numbers aren’t big enough to do that,” Krugman writes.

What other statements have been made? According to Paul Krugman, low awareness of all the risks of the market on the part of novice investors leads to them losing their funds. The economist cited a study showing that more than half of cryptocurrency owners do not have a college degree.

However, this statement drew criticism from readers, who accused Krugman of considering that only rich people are smart enough to invest in cryptocurrencies.

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