Federal Reserve Chairman Jerome Powell said he can envision a return to an era where multiple currencies are in use in the United States.
During PowellтАЩs testimony before the Senate Banking Committee on FacebookтАЩs plannedLibra cryptocurrency, рдЙрд╕рдиреЗ рдХрд╣рд╛: тАЬThe size of FacebookтАЩs network means it could be, essentially, immediately systemically important.тАЭ
Though the initiative raised тАЬa lot of serious concerns,тАЭ including privacy, money laundering, consumer protection, and financial stability, he began to speak favorably about other cryptocurrencies.
тАЬAlmost no one uses bitcoin for payments, they use it more as an alternative to gold,тАЭ he said Thursday afternoon. тАЬItтАЩs a speculative store of value.тАЭ
Powell has stated in the past that the United States should not return to the gold standard. Some took the statement as referring to a call to тАЬdrop gold, buy bitcoin.тАЭ
. Fed Chair says Bitcoin is a Store of Value, and will never go back to gold standard- he is literally saying DROPGOLD- he should be in next DROPGOLD campaign commercial pic.twitter.com/U3Bt7RN4O6
тАФ Simon (@Simon23105395) рдЬреБрд▓рд╛рдИ 11, 2019
How far we’ve come. The Chairman of the Federal Reserve just compared bitcoin to gold
Folks, it’s happeninghttps://t.co/onVmTj4hUk
тАФ Barry Silbert (@barrysilbert) рдЬреБрд▓рд╛рдИ 11, 2019
рдкреНрд░рдХрдЯреАрдХрд░рдг: Silbert is the head of CoinDesk owner DCG.
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