Bitcoin is evil.
Editorial notes
Quote analysis
Meaning
Paul Krugman declared 'Bitcoin is evil' to criticize it as lacking a stable store of value and enabling anonymous transactions that undermine central banking and government oversight.
Context
This statement appeared in Krugman's New York Times blog post titled 'Bitcoin is Evil' on December 28, 2013, amid his decade-long skepticism of cryptocurrencies as wasteful and prone to collapse.
Takeaway
Krugman views Bitcoin as a libertarian threat to state-controlled money systems, contrasting it with gold or fiat currencies that have established backing or uses.
Analysis updated on 2026-04-02.
Editorial assists only - not financial, legal, or investment advice.