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Technology

Bitcoin ‘Ought to Be Outlawed,’ Nobel Prize Winner Stiglitz Says

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Stiglitz discusses Bitcoin on Bloomberg Television.

Nobel Prize-winning economist Joseph Stiglitz said “bitcoin is successful only because of its potential for circumvention, lack of oversight.”  

Bitcoin surpassed $11,000 in a matter of hours after hitting the $10,000 milestone, taking this year’s price surge to almost 12-fold as buyers shrugged off increased warnings that the largest digital currency is an asset bubble.