Harvard Sage’s Bitcoin Blunder: Rogoff’s 2018 Prophecy Spectacularly Implodes 🚀😂

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Letter-writing on X-neither here nor there, formerly Twitter-our renowned economist, the honorable Rogoff, found himself summoning memories of his infamous oracle act from the year of our Lord 2018, whereupon he did declare, with impressive gravity, that Bitcoin was “far more likely” to stagger pitifully down to $100 than ever strut its way to the vaunted realm of $10,000. Fast-forward seven spins of Pluto ‘round the sun, and lo! With Bitcoin prancing above $113,000, after jauntily touching $124,000-Rogoff gives a theatrical bow, confessing his prediction was not merely wrong, but as misguided as an ostrich auditioning for the Royal Ballet. 🪙🤷‍♂️

From Pennies to Fortunes or: How Rogoff Got Punked

Once upon a March 2018, Rogoff issued a pronouncement worthy of Cassandra herself: Bitcoin, claimed he, was fated for doom-a mere instrument for evildoers, fit only for laundering nefarious fortunes and cheating the taxman. At the time, Bitcoin’s price, like a fainting debutante, collapsed from nearly $20,000 to a tepid $11,000, and, as any tragic French comedy demands, plummeted deep to just over $3,000 before winter’s chill had truly settled. Rogoff’s lament echoed the chorus of bubble-pop prophets, all convinced that this unruly crypto spectacle would soon expire-perhaps dramatically, with an offstage crash and thunder.

But what is this? The monetary chimera did not die! It rallied, outfoxed the chorus, and scaled heroic peaks across two riotous market cycles, scaling heights left un-dreamed of by cautious professors in their tweed armchairs. Thus, Rogoff’s cautionary tale has now become the stuff of Twitter legend-a viral ripple, stark proof that Bitcoin’s journey is as predictable as a farce staged by blindfolded mimes.

How Did He Botch It? (Spoiler: With Gusto)

Peering backward with the tortured gaze of a philosopher who has just discovered his wine glass is empty, Rogoff solemnly admits: his greatest folly was believing regulators-yes, those noble guardians in marble halls-would swiftly stampede forth and wrestle crypto into submission. He confides he was “far too optimistic”-which, in economist circles, is akin to saying one’s dog ate the homework, but the dog is also Keynes and the homework is fiat.

Worse! He undervalued Bitcoin’s knack for transformation, its miraculous leap from bizarre fringe experiment to something resembling legitimate currency, institutional darling, and global finance’s naughty enfant terrible. To cap it all, he overlooked the regulators’ eternal squabble-each as indecisive as a lovesick suitor in a Molière comedy-and their stunning reluctance to act as executioner.

The Stage Today: Enter Laughing, Exit Wondering

Yet the curtain is still very much up. The audience bickers loudly from the stalls! Peter Brandt, a venerable trader and connoisseur of drama, now asserts that Bitcoin may have already played its climax, following a dip below $113,000-sympathy pains perhaps for a Nasdaq swoon. Bulls stamp their feet with bravado, imagining the storyline reaches ever higher, while skeptics see the shadow of cycles past, lurking amidst foxtrots and flashbacks.

Rogoff’s soliloquy is but one scene-reminding all players that even seasoned men of finance may predict with the surety of blindfolded fortune-tellers. With Bitcoin’s plot as twisty as any farce, enthusiasts and naysayers alike find themselves rewriting their scripts, wondering if next act brings comedy, drama, or the entrance of another mute jester. 🎭📉💸

This pamphlet-should you be so rash as to act on its contents-is as reliable as a fortune told during a thunderstorm. Consult your own counsel, avoid trusting jesters (especially those of Harvard), and do remember: one man’s prediction is another man’s punchline. 🧐

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2025-08-20 03:13