- Aswath Damodaran predicts digital currencies will eventually be as important as the major paper currencies.
- Santoli asked the valuation expert about bitcoin and other cryptocurrencies.
- “Cryptocurrencies have taken the role of gold at least for younger investors because they don’t trust paper currencies.”
- Damodaran defended digital currencies against skeptics who criticized “coin mining” as a misallocation of resources such as computing power and electricity:
“If you think about it, the printing presses that run paper currencies.
- The only reason currencies exist is for us to transact … If a digital currency can do it more efficiently than paper currency can, I think there is going to be a digital currency sooner or later that competes with the major paper currencies.
Aswath Damodaran believes digital currencies will “sooner or later” compete with the major paper currencies.
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