Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Nobel Prize-winning economist Paul Krugman has stated that an apocalyptic winter from Scandinavian mythology is approaching the Bitcoin market, typically preceding Ragnarok and potentially lasting several years.
According to the economist, the increase in the Bitcoin market until the end of 2025 can largely be attributed to the actions of major corporations, fueled by political backing from the administration of former U.S. President Donald Trump.
However, the original concept of Bitcoin—a libertarian idea of freedom and decentralization—does not align well with the interests of Wall Street and large corporations, the scholar argues.
Related Posts
“When people make predictions about Bitcoin’s price, I always wonder: on what basis? This is not a security—there are no profits, no services provided. It all relies on faith. We are currently witnessing a genuine crisis of trust. A Fimbulvetr is approaching the market—this is a harsh winter from Scandinavian mythology that precedes Ragnarok, the end of the world,” Krugman expressed.
To “save Bitcoin,” the White House would need to invest substantial resources; however, the economist believes it is unrealistic to expect such action from the Trump administration. Investors should prepare for an extended period of stagnation and not anticipate a new bullish cycle in the coming years, the Nobel laureate declared.
Previously, Peter Schiff, president of brokerage firm Euro Pacific Capital, referred to Bitcoin as a speculative tool lacking real benefits for individuals in an interview with American blogger and journalist Tucker Carlson.
