By Navigate the dynamic bitcoin landscape through the ever-shifting perspectives of finance experts, as its role transitions from overlooked currency.
Ottawa, Canada, 27th Aug 2023 – Aswath Damodaran, the distinguished finance professor at New York University’s prestigious Stern School of Business, has once again orchestrated a narrative shift around bitcoin, now encapsulating it as “the oft-overlooked currency.”
Shifting Stance Once More
Embarking on another intellectual voyage, Professor Damodaran, also bestowed with the moniker “Savant of Valuation,” has recently etched his skepticism onto the canvas of bitcoin’s prowess and potential. He crafts it as a currency whose utility lies dormant, a “curious collectible” that dances to its own atypical rhythm, defying established collectible norms.
In a cerebral joust against the prevailing notion that bitcoin could wield the mantle of an inflation hedge, he mounts a counterargument, contending that its fate is entwined with the undulating trajectory of equities:
“As the tides of stocks surge, so does it; as those tides recede, it follows suit. A stark departure from the canonical behavior anticipated of collectibles.”
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