Ray Dalio, who has repeatedly referred to as "junk" money, has also spoke in favor of bitcoin last year, but recently made it clear that he simply wanted to recognize the best cryptocurrency as a means of diversification. The legendary hedge fund manager continues to back up his prediction that governments could potentially ban bitcoin.
Last May, Krugman wrote that he gave up trying to predict bitcoin's "immediate death", arguing that his cult can survive "indefinitely". In an editorial published by the New York Times, Krugman wrote that cryptocurrency was "a long-lasting Ponzi scheme" that can be compared to the fiction orchestrated by Bernie Madoff. Finally, the Nobel laureate argued that the value of the largest cryptocurrency is being inflated by unsubstantiated claims about the imminent demise of fiat money.