Kenneth Rogoff, the Harvard economics professor who once predicted that #Bitcoin would eventually fall to $100, has now admitted in a new statement that he was wrong about his assessment of #Bitcoin.

He previously didn’t think the US government would legislate sensible regulations for cryptocurrencies and expected future policies to marginalize #Bitcoin due to tax evasion and illegal activities. But now he admits that #Bitcoin has established a stable place as a medium of exchange in the underground economy, which has created a strong price for it.

Interestingly, he is even surprised by the conflict between regulatory agencies and digital assets.

These admissions once again show that #Bitcoin should not only not disappear from economists, but has become part of the global financial system.