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.”
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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.
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