Bottom line, Bitcoin is a very different beast than everything that's existed before in finance, and "experts" poorly reasoned opinion carry barely more weight than this article.
The truth is, no one knows what Bitcoin will become, because it's the first of its kind.
When the dust settles, the survivor opinion will - of course - write a book and become famous selling the bedazzled masses a lengthy, sophisticated "I told you so".
But unfortunately, some people in power have been doing just that, especially on the topic of (to make it simple) govt taking on more debt because it's "good for the economy long term".
Krugman is the worst kind of evildoer : someone promoting a radical left wing agenda disguised as an academic.
Even though the seams of the disguise are blatantly obvious, people in power are either too blind to see, or too happy to find an "expert" voice backing up their demagogue agenda as long as gets them re-elected for a second term.
[1] https://www.laphamsquarterly.org/revolutions/miscellany/paul...
I've been a mod of r/economics for half a decade, I work as a data scientist and I have a Msc. in econometrics for what its worth on formal qualifications.
I mainly wrote this one as a go-to to point people on my thoughts of the economics of BTC as pointed out in the TLDR box