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Is Bitcoin a Bubble?

Dr. William Luther from Kenyon College will discuss what Bitcoin is, why it has become so popular, and what the future might hold.  

Last year, bitcoin grabbed headlines across the world when its price soared from $987 to an astounding $19,343 in December. What is bitcoin? Why has its price fluctuated so much? What implications might it have for the future of money not only in developed economies but also in the developing world, where remittances made through bitcoin continue to soar? Dr. Luther will consider the fundamental value of bitcoin—and the various factors affecting it—in his upcoming talk. William J. Luther has been an assistant professor of economics at Kenyon College in Ohio since 2012. He is also an adjunct scholar with the Cato Institute’s Center for Monetary and Financial Alternatives and the director of the American Institute for Economic Research’s Sound Money Project. Luther’s research focuses primarily on questions of currency acceptance and the role governments play in determining commonly accepted media of exchange. He has written extensively on the monetary regime of Somalia following state collapse in 1991 and the cryptocurrency bitcoin. He has published articles in leading scholarly journals, including Economic Inquiry, Public Choice and Contemporary Economic Policy. His popular works have appeared in The Economist, Forbes and U.S. News & World Report. Luther’s research has been cited by major media outlets, including NPR, VICE News, the Christian Science Monitor and New Scientist.