shutterstock 2123123924 New Philippines Central Bank Governor: Crypto Investors Are Adherents of the Greater Fool Theory!

New Philippines Central Bank Governor: Crypto Investors Are Adherents of the Greater Fool Theory!

– The new governor of Bangko Sentral ng Pilipinas (BSP), Felipe Medalla, has claimed that bitcoin investors only buy the cryptocurrency because they are convinced that someone else will buy the same digital asset at a higher price.

– Medalla also believes that the value proposition of cryptocurrencies is based on the so-called Greater Fool Theory.

– In addition to the Greater Fool Theory claims, Medalla said people that choose to invest in cryptocurrency do so because the digital currency gives them an ability to hide their holdings.

 

 

shutterstock 2123123924 New Philippines Central Bank Governor: Crypto Investors Are Adherents of the Greater Fool Theory!
New Philippines Central Bank Governor: Crypto Investors Are Adherents of the Greater Fool Theory! 3

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