Bitcoin won't become 'an alternative form of money,' or a store of value, says Ben Bernanke

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.

You don't have to believe him.. Some here say btc will hit 100k,some 1m,some to the moon.. Well go ahead it's at 30k right now, hell of a bargain if you believe btc is the future.. No one stopping you.

Watch yourself backpeddle that statement in 30 days.

For his generation, maybe.

Lol until now they havent figure out what bitcoin really is

fighting words, and no, I didn't read the stupid article

TheMaximvs09 Bitcoin can become a secure traceable form of money, just like a rock, every single one is unique, it's a digital rock, it's not good for investment though

Same as asking a horse salesman about cars

H

This meathead. LOL. Right or wrong we know he was part of the problem.

It's just a shady Ponzi stock market for degenerate basement gamblers. ¯\\_(ツ)_/¯

📝

Very unstable, I would rather gold.

gold was better alternative

Guys rate my nude photos)

This coming from the same guy who started QE and raped everyone’s store of value. Why even hand him a microphone?

hey MrStockBot, show me the yield curve

I'm a huge bernanke fan, but he's wrong on this one.

Becoming more and more of a true statement

It's just another asset to trade, anyone who holds physical bitcoin is naive

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hold accountable those who radicalize people into 'hate-mongers,' Ben Crump says after Buffalo mass shootingAn attorney for the family of an 86-year-old grandmother who was killed in the Buffalo supermarket shooting is calling for those who radicalize white supremacists to be held accountable. Why do families keep hiring this man? Why Get the ones that were tracking his social media and did nothing. I couldn't agree more. My condolences.
Source: CBSNews - 🏆 87. / 68 Read more »

More Than Almost Famous: Rock Star Journalist Ben Fong-Torres Tells AllThe Rolling Stone writer, star of a new Netflix doc, reminisces in our new podcast about interviewing everyone from Ray Charles to George Harrison
Source: RollingStone - 🏆 483. / 51 Read more »

Nets, Ben Simmons commit to work together in offseason: ‘Everyone is confident’Ben Simmons and his camp will sit down with the Nets and hammer out a plan for the ensuing months.
Source: nypost - 🏆 91. / 67 Read more »

Kevin Samuels' Family Won't Accept Money Raised Through GoFundMeKevin Samuels' family says an imposter is behind a GoFundMe created to raise money for his funeral expenses, and even though they were offered the cash ... they won't accept the money. Got Damn that’s disturbing. oluwacjay_ ton gars la même sa famille est terrible How come I haven't been refunded my money then if they not accepting the money?
Source: TMZ - 🏆 379. / 59 Read more »

Veteran Investor Bill Miller Remains Bullish on Bitcoin — Confirms He Has a Lot of BTC – Markets and Prices Bitcoin NewsVeteran investor Bill Miller says he has “a lot” of bitcoin. He is still bullish on $BTC despite the recent crypto sell-off. cryptocurrency JOIN THE GIVEAAWAY!👉 SHIBA_INU_B0NUS They are the main culprit who buy at dip, then use their influencing power for price hike. They leave with cash at certain peak. People don't understand that in crypto someone's profit means someone's loss if you buy with cash.
Source: BTCTN - 🏆 531. / 51 Read more »

Bitcoin tumbles, a stablecoin plunges in wild week in cryptoBitcoin tumbled, stablecoins were anything but stable and one of the crypto industry's highest-profile companies lost a third of its market value.
Source: KTVU - 🏆 465. / 53 Read more »