Bitcoin won't last in world of finance, warns Nobel-winning economist

Davos speakers round on cryptocurrency as Robert Shiller calls it a clever idea with an impermanent future

The Nobel prize-winning economist Robert Shiller has said bitcoin will not be a "permanent feature" of the financial world, as politicians indicated that a clampdown on cryptocurrencies was coming.

Speaking at the World Economic Forum in Davos on Thursday, Shiller hailed bitcoin as a "really clever idea". But although he was impressed with the technology behind it, he was concerned that it had "gone viral as a currency".