Krugman has been right about economic outcomes in the past, such as the idea that inflation would not run rampant over the past 10 years as many gold enthusiasts feared.

It is ironic to me, however, for him to say what he's saying about cryptocurrency -especially about it's value and backing- when he himself advocated creating a $1 Trillion dollar coin to solve some of the US monetary issues. Which probably would have worked. Who knows.

But how is minting a $1 Trillion dollar coin struck from platinum better than creating a digital, hardened currency like Bitcoin?

https://krugman.blogs.nytimes.com/2013/01/07/be-ready-to-mint-that-coin/