yota691 Posted March 23, 2021 Report Share Posted March 23, 2021 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. 1 Quote Link to comment Share on other sites More sharing options...
MyLadiesDaddy Posted March 23, 2021 Report Share Posted March 23, 2021 I love your post Master Yota as you well know but this guy is about the most clueless man alive. People should be very concerned that he's in charge of the world's fiscal policies. 1 1 Quote Link to comment Share on other sites More sharing options...
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