Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Federal Reserve Chairman: Bitcoin is an alternative to gold, not the dollar


yota691
 Share

Recommended Posts

Federal Reserve Chairman: Bitcoin is an alternative to gold, not the dollar

Federal Reserve Chairman: Bitcoin is an alternative to gold, not the dollar

 March 22, 2021 6:19 PM
Mubasher: Federal Reserve Chairman Jerome Powell said that Bitcoin is an alternative to gold, not the dollar, indicating that it lacks the main components that make it a useful currency.

"Crypto assets are highly volatile, therefore they are not really useful as a store of value, they are speculative assets, " the Fed chief added during a hypothetical conference of the Bank for International Settlements .

"Bitcoin is basically an alternative to gold, not the dollar," Powell said.

The Fed Chairman explained that stable currencies are a better development compared to crypto assets, because their credibility comes from supporting them with a sovereign currency .

"Stable coins may have a role to play with appropriate regulation," Powell said, "but this role will not be in forming the basis for a new global monetary system . "

The president of the federation emphasized that the central bank is in no hurry to issue its own digital currency.

 
  • Upvote 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    No registered users viewing this page.



  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.