Economic Historian Niall Ferguson regretted dissing bitcoin four years ago

British economic historian Niall Ferguson said that the cryptocurrency seems to be different from what he had thought before, not a delusion.

Ferguson is the author of the currency history monograph "Rise of Money" and was named one of the "100 people influencing the world" by Time magazine in 2004.

He mentioned in his participation in the event today:

I was very wrong. Wrong to think there was no use for a form of currency based on blockchain technology,

Ferguson is reported to have said. Notably, as of last month, he sits on the advisory board of algorithmic (non-fiat-pegged) stablecoin issuer Ampleforth.

It is worth noting that he also became an advisor to an algorithmic stabilization coin company last month.
Four years ago, Ferguson learned about the existence of Bitcoin from his son's mouth. Ferguson admits that he has a pre-set position on Bitcoin because of his understanding of financial innovation and the history of legal currency. Today, he believes that the price trend of Bitcoin proves its vitality and flexibility.

However, Ferguson is still critical of Bitcoin's rise to nearly $20,000 at the end of 2017 due to speculation. At this stage, the bitcoin price has been adjusted back to between $3,000 and $4,000. It is a good thing for Ferguson. He thinks that bitcoin prices are far from the crash:

I don't think this will turn out to be a complete delusion.

Ferguson also mentioned that cryptocurrencies are not associated with traditional assets, which is attractive to some investors.
From a broader perspective, Ferguson predicts that the next decade will herald a more innovative era of financial history than the past decade. He believes that at this stage we are affected by the 2008 financial crisis and there is no small supervision. Obstruction, "This will be a real period of reform."

Ferguson also said earlier that Bitcoin is "a choice for digital gold", which cannot be confiscated and can also take on insurance functions. He also expressed doubts about the stable currency punishable by the French currency, and believed that investors prefer Bitcoin.

In fact, in addition to Ferguson, there is a more legendary figure who also said that bitcoin is an illusion . He is Buffett. Buffett has repeatedly criticized Bitcoin in public, calling it a mirage, a rat poison, an illusion, and so on. Ferguson changed his mind in four years. How long does Buffett need?