Fed Chairman Janet Yellen has called bitcoin a «speculative asset»

Federal reserve Chairman Janet Yellen (Janet Yellen) has called bitcoin «highly speculative asset» that «is not a legal tender». Bitcoin this year increased by about 17 times, which is a concern of Central banks around the world.

«Today, bitcoin plays a very small role in the payment system,» said Yellen at a press conference in Washington. It seems, understates the ability of cryptocurrency to affect the larger financial markets. She also added that bitcoin «is not a stable repository of funds».

Other representatives of Central banks shared a similar opinion. So, last month the President of the new York fed, William Dudley (William Dudley) said that he was «quite skeptical» applies to bitcoin, which in his opinion «is not a stable tool for investment.»

The head of the reserve Bank of Australia Philip Lowe (Philip Lowe) this month said that the cryptocurrency craze «is nothing more than a speculative mania, and she has nothing to use as a form of payment».

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