PAUL KRUGMAN: Bitcoin is a more obvious bubble than housing was

Nobel prize-winning economist Paul Krugman talks to Business Insider senior political editor Josh Barro about bitcoin. Krugman says the price of bitcoin is helped by the fact that no one understands it and people are caught up in the mystique of this new technology. Following is a transcript of the video. 
Josh Barro: Finally, I want to ask you about Bitcoin. Does the runup in bitcoin prices make any sense to you?
Paul Krugman: No.
Barro:  What's going on here?
Krugman: Bitcoin, nobody