Jerome Powell, Federal Reserve Chairman presents his testimony before the Senate Banking Committee on Facebook’s planned Libra cryptocurrency hoping for an era where multiple currencies are being used in the United States, returns.
Powlle’s states
“The size of Facebook’s network means it could be, essentially, immediately systemically important.”
While he did raise “a lot of serious concerns,” in regards to digital currencies such as privacy, money laundering, consumer protection, and financial stability, he also spoke favorably about other cryptocurrencies. Check out the video below:
He stated on thursday afternoon:
“Almost no one uses bitcoin for payments, they use it more as an alternative to gold. It’s a speculative store of value.”
In the past, Powell has expressed that t the United States should not return to the gold standard. His words were twisted by some and referred it to mean “drop gold, buy bitcoin.”
https://twitter.com/barrysilbert/status/1149416924771704832
Read more:Brazilian Coffee Farming Cooperative Plans A Coffee-Backed Token
Image Source – Pixabay.com
Ethereum Price Analysis – ETHUSD May Further Decline
Ripple Price Prediction – Will XRPUSD Decline Further?
Binance Coin Price Analysis – Will BNBUSD Depreciate Further To $24?
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.