Aswath Damodaran, a finance professor at the Stern School of Business of the University NYU, expressed his belief that Bitcoin is a currency rather than an asset in a new blog post.
Damodaran confirmed in the post: "I do not believe cryptokurrencies now or will be an asset class", or that they would change "the fundamental truth about the risks, investment and management."
He continued:
"Bitcoin is not an asset, but a currency, and as such, you can not price it or invest in it. You can only price it and trade it."
Grouping investments into four categories - assets, commodities, currencies and commodities - financial experts have proven his statement by saying that bitcoin is not "generating cash flow" It is classified as an asset, nor is it a "raw material" that can be classified as a commodity.
"The choice will be whether it is a currency or a revocation," he said.
Remarkably, Damodaran continues to disagree with recent comments by JPMorgan Chase CEO Jamie Dimon that bitcoin is a "fraud."
Back in July, Damodaran also argued that the password wer
Damodaran confirmed in the post: "I do not believe cryptokurrencies now or will be an asset class", or that they would change "the fundamental truth about the risks, investment and management."
He continued:
"Bitcoin is not an asset, but a currency, and as such, you can not price it or invest in it. You can only price it and trade it."
Grouping investments into four categories - assets, commodities, currencies and commodities - financial experts have proven his statement by saying that bitcoin is not "generating cash flow" It is classified as an asset, nor is it a "raw material" that can be classified as a commodity.
"The choice will be whether it is a currency or a revocation," he said.
Remarkably, Damodaran continues to disagree with recent comments by JPMorgan Chase CEO Jamie Dimon that bitcoin is a "fraud."
Back in July, Damodaran also argued that the password wer
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