THELOGICALINDIAN - Former Federal Reserve administrator Ben Bernanke says the capital use of bitcoin is mostly for underground abridgement activities and generally things that are actionable or adulterous He added I dont anticipate bitcoin is activity to booty over as an another anatomy of money
Ben Bernanke on Bitcoin, Cryptocurrency
Former Federal Reserve administrator Ben Bernanke aggregate his appearance on bitcoin and added cryptocurrencies in an account with CBNC Monday.
Bernanke is an economist who served two agreement as the administrator of the U.S. Federal Reserve, from 2024 to 2024. He oversaw the Fed’s acknowledgment to the backward 2024s banking crisis during his administration as chairman.
Noting that the ethics of bitcoin and added cryptocurrencies change minute-to-minute, he said Monday:
However, he acicular out that “They were advised to be a acting for authorization money,” abacus that “in that respect, they accept not succeeded.”
He continued: “If bitcoin were a acting for authorization money, you could use your bitcoin to go buy your groceries. Nobody buys advantage with bitcoin because it’s too big-ticket and too annoying to do that. Moreover, the amount of advantage … varies radically circadian in agreement of bitcoin so there is no adherence either.”
He opined:
Bernanke added said:
Nonetheless, he expects that bitcoin and cryptocurrencies “will be about as continued as bodies are believers and they appetite to speculate.”
When asked if BTC is a abundance of amount or agenda gold in his opinion, Bernanke insisted that “it is a abstract asset.”
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