Harvard Economist Revises Bitcoin View as Institutions and Tech Giants Boost Crypto Investments

Harvard Economist Revises Bitcoin Forecast: Institutional Investments on the Rise

Kenneth Rogoff, Harvard professor and former chief economist of the International Monetary Fund (IMF), has publicly questioned his 2018 Bitcoin forecast. Back then, he stated in a CNBC interview that Bitcoin was “more likely to hit $100 than $100,000.” Today, Bitcoin’s all-time high stands at nearly $124,500. Rogoff reflected on X, asking, “What did I miss?” He cited the lack of crypto regulation in the US and Bitcoin’s role in the “global shadow market” as reasons for his misjudgment.

The crypto community responded swiftly: Bitwise CIO Matt Hougan emphasized that Rogoff did not anticipate the success of a decentralized project driven by people rather than institutions. Crypto analyst David Lawant remarked that Rogoff’s book “The Curse of Cash” was “so bad” it led him to Bitcoin. Notably, the Harvard endowment itself has been investing in Bitcoin for some time and recently disclosed an investment of around $116 million in BlackRock’s Bitcoin ETF. This highlights that even experts from elite institutions can be wrong in their predictions.

• Rogoff cites lack of regulation and the shadow market as reasons for his misjudgment.
• The Harvard endowment is now investing in Bitcoin.

“What did I miss?” – Kenneth Rogoff, Harvard Professor

Infobox: The development of Bitcoin has surprised even renowned economists. The Harvard endowment is now investing in Bitcoin. (Source: Blockchain Hero)

Google Invests Billions in Bitcoin Miner TeraWulf

The stock of Bitcoin miner TeraWulf surged nearly 90 percent over the last five trading days, with a single-day increase of more than twelve percent on Monday. The catalyst was the news that Google is significantly expanding its stake in TeraWulf, supporting the company with an additional $1.4 billion. This brings Google’s total support to $3.2 billion.

In return, Google receives warrants to acquire 32.5 million shares of the sustainable mining company. Google’s pro-forma stake in TeraWulf rises from eight to 14 percent. Simultaneously, TeraWulf, together with AI cloud platform Fluidstack, is building a new data center called CB-5. Two ten-year contracts with Fluidstack secure over 200 megawatts of capacity at the Lake Mariner data center. TeraWulf CEO Paul Prager stated that the expansion deepens their strategic partnership with Google as a key financial partner for next-generation AI infrastructure.

• Google receives warrants for 32.5 million shares.
• TeraWulf expands in the AI sector with new data center CB-5.

Infobox: Google invests a total of $3.2 billion in TeraWulf, increasing its stake to 14 percent. TeraWulf is also expanding in the AI sector. (Source: Blockchain Hero)

ALL4 Mining: XRP Holder Achieves $10,477 Daily Profit with Bitcoin Mining

In August 2025, the US Securities and Exchange Commission (SEC) lifted a new exemption for Ripple, making it easier for institutional investors to access XRP. Experts expect this to strengthen Ripple’s (XRP) market position. More and more XRP holders are adopting a dual strategy: benefiting from potential price increases and generating steady cash flow through cloud mining.

ALL4 Mining, founded in 2019, has established itself in cloud mining with low entry barriers and predictable returns. Users do not need to purchase or manage hardware but can select a mining contract online. An experienced XRP investor reported earning daily cash returns with ALL4 Mining in addition to holding XRP. The platform offers various contracts with daily returns ranging from several tens to several tens of thousands of dollars. One XRP holder achieved a daily profit of $10,477 through Bitcoin mining.

• ALL4 Mining offers flexible contracts and daily payouts.
• Cloud mining enables XRP holders to generate daily income.

Infobox: Cloud mining with ALL4 Mining allows XRP holders to earn daily income and offers flexible contract models. (Source: Blockchain Hero)

Bitcoin and Crypto Options: Guide for 2025

Trading Bitcoin and crypto options offers numerous opportunities, especially due to the high volatility of digital currencies. Options are contracts that grant the right, but not the obligation, to buy (call) or sell (put) cryptocurrencies like Bitcoin at a set price. The market includes over 4,000 cryptocurrencies and is highly dynamic.

The guide from ingenieur.de explains that call options allow purchases at a fixed price, which is advantageous when prices rise. Put options serve as protection against price drops. Advantages of options trading include not having to buy the cryptocurrency directly, targeted risk management, and the ability to profit from price fluctuations. Key terms include:

• Strike Price: Set price for buying/selling
• Option Premium: Price for the right to trade
• Expiration Date: Deadline for exercising the right
• European Options: Exercisable only at expiration
• American Options: Exercisable any time until expiration

Risks mainly stem from high volatility, time decay, and the possibility of total loss due to leverage. Successful trading requires risk management, market observation, and continuous education. Options differ from futures by offering more flexibility and security.

Infobox: Crypto options offer attractive opportunities in 2025 but require solid knowledge and good risk management. (Source: Blockchain Hero)

Bitcoin, Gold, and Champions Stocks: Asset Class Discussions

During intense vacation discussions, boerse.de conducted a systematic comparison between gold and Bitcoin, focusing on risk-return ratios and the differences between physical Bitcoin investments and Bitcoin ETPs. The discussions show that cryptocurrencies have become a permanent topic among investors.

• Comparison of gold and Bitcoin in terms of return and risk
• Differences between physical Bitcoin and Bitcoin ETPs

Infobox: Bitcoin and gold are increasingly being compared systematically, with new investment forms like Bitcoin ETPs also being discussed. (Source: Blockchain Hero)

Experts Warn of 51% Attack on the Bitcoin Blockchain

Current data shows that mining pools Foundry and AntPool together control over 51 percent of the Bitcoin hashrate. Foundry holds a market share of 33.63 percent, while AntPool has 17.94 percent. This concentration raises questions about the decentralization and security of the Bitcoin network.

Analyst Jacob King and other experts warn that a merger of these pools could enable a 51 percent attack. Statistics from Evan Van Ness show that three mining pools often control over 80 percent of the global hashrate. This is the first time in over a decade that mining concentration has reached such a dangerous threshold. A 51 percent attack would allow blocking or reversing transactions and double-spending. However, executing such an attack is extremely costly and would also harm the attackers, as the Bitcoin price could collapse. Nevertheless, the mere possibility creates psychological pressure and market uncertainty.

• Mining concentration at a ten-year high
• Risk of a 51 percent attack is increasing

Infobox: The control of over 51 percent of the hashrate by two mining pools endangers the decentralization and security of the Bitcoin blockchain. (Source: Blockchain Hero)

Sources:

• Harvard-Ökonom irrt bei Bitcoin, Google investiert Milliarden, Experten warnen vor 51-Prozent-Angriff