Bitcoin Price Will ‘Burn Out in Spectacular Crash’: Fmr White House Budget Chief

A former White House budget director said that he believes the bitcoin price will experience a “spectacular crash,” teaching the “really stupid” cryptocurrency investors a serious lesson about how markets function. Bitcoin Price to See ‘Spectacular Crash’ David Stockman, who served as the director of the US Office of Management and Budget during the Reagan administration, told CNBC that as astonishing as bitcoin’s rise has been, its decline will be even more meteoric. “It’s basically a class of really stupid speculators who have convinced themselves that trees grow to the…

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