"Fama, who authored the efficient markets hypothesis in the 1960s, didn't actually guarantee that Bitcoin will be worthless. Rather, he agreed when podcast host, finance professor Luigi Zingales, asked what the probability was that, "within 10 years, the value of Bitcoin would go to zero?"

"I would say it's close to one," Fama replied."

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"Another big threat to Bitcoin voiced by Fama is 51% attack. Although such an attack would have been costly, Fama says that every transaction system faces "a problem of verification and a problem of who is enforcing the rules."

Fama, who was awarded with a Nobel Prize in economics in 2013, also insists that " unlike Bitcoin " gold is more favorable because it has many use cases. And the government's role in the crypto market may speed up the loss of value of Bitcoin.'