Dr Doom slams bitcoin

THE craze for online currency bitcoin is a ‘giant speculative bubble’, a famed economist who predicted the financial crisis has warned.

nouriel roubini – known as dr doom for his gloomy outlook – said that there is no ‘fundamental reason’ for the surging price of the digital money and it will end in disaster. the value of one bitcoin has risen from £550 to almost £5,720 in the last year as speculators pile in. But a string of top business figures have warned it is a dangerous bet.

roubini said: ‘it is also used by criminals, for their shady business.

‘i think that more and more countries will start to make cryptocurrency exchanges illegal.’