Paul De Grauwe, economics and entrepreneur, believes that Bitcoin will not be the currency of the future.

The bitcoin bubble has not been broken yet because of the belief that the cryptocurrency has an intrinsic value. But the king of the cryptocurrencies is naked. Bitcoin has no immanent value. This bubble will fall apart and many speculators who join it too late will be disappointed - warns Paul De Grauwe.
Paul De Grauwe claims that the value of Bitcoin grows infinitely and begins to resemble tulipism in the sixteenth-century Netherlands. Where, as in the case of Bitcoin, it was claimed that it would continue to gain in value, but after a few years the assets broke down

Paul De Grauwe called Bitcoin an archaic currency, comparing it to gold, which was once the same currency. archaic currencies are created using rare factors of production. For example, gold is obtained by digging deep in the ground with the help of many machines and a large amount of work. Bitcoin, which needs the computing power of the computer, and the computer needs a lot of power. Although Bitcoin is considered the currency of the future, but how gold is the money of the past. the difference between bitcoin and fiat money, it's a lot to make banknotes - admits De Grauwe
However, we are increasingly using credit and debit cards. Electric money does not need so many rare resources. They think that the only currency of the future is electric money. For Bitcoin to become the main currency in the future, it must have lower mining costs.