Fed Chairman: ‘No One Uses It’ — Bitcoin a Speculative Asset Like Gold

12 Jul 2019

Fed Chairman: ‘No One Uses It’ — Bitcoin a Speculative Asset Like Gold

The Chairman of the United States Federal Reserve has said that a globally adopted cryptocurrency system could conceivably remove the need for reserve currencies.

Testifying before the Senate Banking Committee on July 11, Fed Chairman Jerome Powell gave his analysis of whether a cryptocurrency system with global prevalence could diminish — or even go so far as to remove the need for — so-called anchor currencies.

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