Rupert Watson: governments against Bitcoin because they will face angry investors when it collapses

Rupert Watson, head of Asset Allocation at Mercer, has shared his opinion on Bitcoin today, and like many other economists, he believes Bitcoin is a bubble and will eventually fall. What separates him from others is how he perceives the world regulators’ sentiment towards Bitcoin: they are not, in fact, against the idea of cryptocurrencies, but rather against the scenario when people lose money after the mania ends and blame the government.

Some of most desperate investors might even start to invent conspiracy theories about the government involvement in the whole collapse, and this reputation damage is also undesirable for the authorities, Rupert Watson explains. He also points out that this all takes roots from the previous financial crisis, when the economy collapse harmed the reputation of politicians and civil servants.

As for when and on which price Bitcoin is going to collapse exactly, Mr. Watson quite honestly claimed he does not have a faintest idea. He reminds he thought BTC was a bubble during the times it cost 1000 dollars. But now there’s quite a lot of money and quite a lot of people who might get angry, told Rupert Watson in conclusion.

Meanwhile, Bitcoin falls due to possible strengthening of South Korean laws on cryptocurrency exchanges, but this is one of many interpretations of the rally investors are witnessing.