Ben Bernanke, former chairman of the Federal Reserve, says that he doesn’t think bitcoin would take over “as an alternative form of money.”
Ben Bernanke, former chairman of the Federal Reserve, said that he doesn’t think bitcoin would take over “as an alternative form of money.”
Bitcoin BTCUSD and other cryptocurrencies have been “successful as a speculative asset,” Bernanke said in an interview with CNBC’s Squawk Box that aired Monday morning. “You are seeing the downside of that right now,” Bernanke said. Bitcoin supporters have argued that the Lightning network, which is layered on top of the Bitcoin blockchain, could improve the speed and reduce fees for transacting on the network.Bernanke also said he doesn’t think bitcoin has the potential to serve as a “store of value” or “digital gold,” a narrative endorsed by many supporters of the cryptocurrency.
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