Nobel Prize winner in economics: Bitcoin is greatly exaggerated and should be regulated

According to foreign media reports, Joseph Stiglitz, the 2001 Nobel Prize winner in economics and professor at Columbia University, said at an event that Bitcoin prices are seriously overvalued and the US government's attempt to shut down Bitcoin exchanges is correct. Stiglitz recently promoted his new book at the London School of Economics and answered questions from the audience at the end of the event.

Stiglitz was asked about his views on unregulated Bitcoin, such as the future trends of Bitcoin and how it will shape the international monetary system.

In response to this question, Stiglitz also gave a corresponding answer: "My personal view is that Bitcoin is seriously exaggerated. As a common medium of exchange or a store of value, it should be regulated, and Bitcoin is now mainly used to evade the supervision of the tax department. I think the US government's attempt to shut down Bitcoin exchanges is correct. I think this approach is effective."

Stiglitz's new book is titled "The Euro: How a Common Currency Threatens the Future of Europe."

Stiglitz was a member and chairman of the U.S. President's Council of Economic Advisers, and served as Senior Vice President and Chief Economist of the World Bank from 1997 to 2000.