Overview

• Posting on X on Aug. 19–20, the former IMF chief economist said he was “far too optimistic” that the U.S. would quickly impose strict, “sensible” crypto rules.
• He added that he underestimated Bitcoin’s appeal as a transaction medium in a roughly $20 trillion underground economy, which he says supports persistent demand.
• Rogoff also criticized policymakers and singled out President Donald Trump, referencing Trump‑linked crypto ventures and disclosures reporting more than $57 million in related earnings.
• Bitcoin was trading above about $113,000 after briefly setting a record near $124,000, up roughly ninefold since Rogoff made his prediction in 2018.
• Crypto figures such as Anthony Pompliano ridiculed the explanation, while commentary in outlets like Forbes framed the episode within a broader debate over whether Bitcoin is an architectural innovation in money.