Nouriel Roubini: Bitcoin is only a “partial” store of value

Digital assets can only be used for partial preservation of value, but will not replace fiat funds, Nouriel Roubini, professor of economics at New York University and renowned Bitcoin critic, told Yahoo.Finance.

“Bitcoin can only be considered a partial store of value as it cannot be easily depreciated, unlike other similar instruments. The asset has a special algorithm that determines how much its offer will increase in the future, ”he said and stressed that despite the emergence of new means of payment, they cannot become full-fledged competitors to the dollar. In addition, according to Roubini, cryptocurrencies cannot be considered a means of settlement and have too high volatility.

Nouriel Roubini also emphasized that the implementation of the plans of the world central banks to issue national cryptocurrencies will contribute to a significant decrease in investor interest in existing digital assets. So, any resident will be able to open a new bank account and store all their electronic assets in one place, avoiding the paperwork in the form of checks.