Source: Paul Krugman
by Paul Krugman
“[T]oday’s price action shouldn’t change your view about Bitcoin’s usefulness or lack thereof. If, like me, you consider the whole thing a delusion — BTC isn’t a medium of exchange, nor is it a reliable store of value — then you already knew that and the fact that we seem to be having a Wile E. Coyote moment isn’t information about the fundamentals. (There are no fundamentals.) If you have some story about why this aging financial innovation is actually useful — do tell — you should HODL through the panic.” (02/05/26)