Technology

How Milton Friedman Predicted Bitcoin In 1999

Guest Writer
Editor-at-Large
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Bitcoin is widely embraced by the libertarian community, mostly because the digital currency isn't tied to any single government, nor is it that heavily regulated. (Well, at least not yet. Give it time.)

So it shouldn't come as a surprise that the idea behind Bitcoin was endorsed years ago by Milton Friedman, the shaman of modern free-market economics.

In a 1999 interview suddenly making the rounds on YouTube, Friedman talks about the then-nascent internet, saying he thinks it will be one of "the major forces reducing the role of government."

That remains to be seen, but he then mused over the idea of a web currency that sounds awfully familiar to today's beloved, misunderstood and evolving Bitcoin...

More from Entrepreneur

Kim's expertise can help you become a strong leader, pitch VCs for capital, and develop a growth strategy.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.