Eugene Pharma, a professor at Chicago University, predicted, "Bitcoin's value will converge to zero – 매일경제

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Eugene Pharma, a professor at Chicago University, predicted, “Bitcoin’s value will converge to zero within 10 years.”
According to cryptocurrency media Crypto News and Promarket on the 2nd (local time), Prof. Pharma criticized on the podcast “Capital Resident” on the 30th of last month, saying, “Cryptocurrency violates all rules as an exchange medium.”
“(Cryptocurrency) has no stable real value, it has a very variable real value,” Professor Pharma said, adding, “It cannot survive as an exchange medium.”
When asked by the host, “What is the probability that Bitcoin’s value will fall to zero in 10 years?” Prof. Pharma replied in a podcast, “I can say it’s almost 1 (100%).”
“The price is entirely determined by demand because Bitcoin’s nature restricts supply,” he said. “The combination of fixed supply and fluctuating demand creates price volatility, making it not suitable as a currency.”
Professor Pharma said, “I want Bitcoin to collapse. Otherwise, we will have to start the monetary theory all over again, he said. “If Bitcoin does not collapse, we will have to rethink the monetary theory all over again.”
However, he said, “I also admit the possibility of being wrong,” and Crypto News also added, “Professor Pharma premised that there is nothing predictable in the market.”
Prof. Pharma, who has been developing efficient market theory, is evaluated as a scholar who provided a logical framework for an index-following fund with the proposition that “all information in the market is immediately reflected in asset prices.”
In 2013, he shared the Nobel Prize in Economics with Professor Robert Schiller of Yale University and Professor Lars Peter Hanson of the University of Chicago in recognition of his contribution.
Meanwhile, Bitcoin is showing a sharp decline as tensions rise due to the ignition of the tariff war from the United States. As of 2 p.m. on the 2nd (U.S. Eastern Time), the price of each bitcoin fell below $100,000 as it traded at $97,759, down 5.0% from 24 hours ago.
Bitcoin barely maintained the low $100,000 range the previous day, but fell sharply from around 10 p.m. to give up the $100,000 range. It has been weakening for three consecutive days since hitting the $105,000 mark on the morning of the 31st of last month.
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