Federal Reserve Chairman Jerome Powell sees cryptocurrency as a replacement for gold rather than the dollar. However, he warned that crypto assets, including Bitcoin, are highly volatile.
Meanwhile, in a webinar held by the Bank of International Settlements (BIS) on Monday, Powell talked about cryptocurrency. Specifically, in the discussion, he emphasized on Bitcoin. He felt that digital assets like Bitcoin are highly volatile. Hence, claiming that they are not useful as a store of value.
On this note, he went on and said that crypto assets are not even backed by anything. They …..This article first published on coinquora.com
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Source: Cryptocurrency - investing.com
