Faculty News

Professor Aswath Damodaran discusses why cryptocurrencies have replaced gold for younger investors

Excerpt from CNBC -- "Aswath Damodaran predicts digital currencies will eventually be as important as the major paper currencies. He said cryptocurrencies have already replaced gold for younger investors.'All currency is ... based on trust. If you don't trust paper currency, historically what you've done is you dumped paper currencies [and] you bought gold,' he said. 'Cryptocurrencies have taken the role of gold at least for younger investors because they don't trust paper currencies.'"

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