Milton Friedman predicting Bitcoin back in 1999.


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Milton Friedman predicting Bitcoin back in 1999.



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Milton Friedman ( New York , 31 of July of 1912 - San Francisco , 16 of November of 2006 ) was an economist , statistician and American writer who taught at the University of Chicago for more than three decades. He received the 1976 Alfred Nobel Prize in Economic Sciences in Memory of and is known for his research into the analysis of consumption , monetary theory and history , as well as for his demonstration of the complexity of stabilization policy. 




Milton Friedman in 1999:

 "The internet is going to be one of the major forces for reducing the role of government. The one thing that is missing is a reliable e-cash, a method by which on the internet you can transfer funds from A to B anonymously."


In this interview, Friedman, who is famous for the stockholder model of business ethics accurately forecasts the need for a reliable e-cash that allows individuals to send money online anonymously. Who knew that this forecast would come true only a decade later with cryptocurrencies such as Bitcoin and Litecoin being invented in 2009.