Nobel Laureate Paul Krugman Slams Venmo After Payment Trouble — Bitcoin Fixes This, Says Michael Saylor

Nobel laureate Paul Krugman may not have been a fan of cryptocurrencies, but personal issues with a traditional financial company have left him feeling frustrated and compelled to express his displeasure on Twitter.

What Happened: The economist bemoaned the fact that his Venmo account had become unresponsive, with no explanation or solution.

In a Twitter thread, Krugman on Wednesday said, “I've been using Venmo for years, but now it won't allow me to make payments,” he tweeted. “I spent a long time in chat with representatives, and they told me that they can't explain why—or fix it. The software has taken control.”

See Also: Top Indian Apps That Give Bitcoin, NFT Rewards

The irony, of course, wasn't lost on the Bitcoiners. Michael Saylor, co-founder of MicroStrategy Inc, MSTR, responded: "Bitcoin BTC/USD fixes this.”

#Bitcoin fixes this.

— Michael Saylor (@saylor) March 8, 2023

Jeremy Allaire, CEO of stablecoin USD Coin USDC/USD, responded to Krugman, asking him to try USDC instead.

For many years, Krugman has been highly critical of the cryptocurrency space, maintaining that it is "largely a Ponzi-scheme", does not solve any meaningful problem, and is used largely for nefarious black market activities. 

Price Action: At the time of writing, BTC was trading at $21,669, down 1.48% in the last 24 hours, according to Benzinga Pro data.

Read Next: Bitcoin, Ethereum, Dogecoin Drop On Report Of Biden's Crypto Tax Tweaks: Analyst Urges Focus On 'Red Candles' Amid Major FOMO