The President of the Atlanta fed urged to refrain from investing in cryptocurrency

President of the Federal reserve Bank of Atlanta and member of the Board of Directors of the Federal reserve advised not to invest in cryptocurrencies, speaking at a conference of Hope Global Forums.

On Tuesday Rafael Bostic (Raphael Bostic), Chairman of the Federal reserve Bank of Atlanta since 2007, spoke negatively about cryptocurrency at the annual event Hope Global Forums. According to Bloomberg, Bostika when asked about investments in cryptocurrency, he said:

«Don’t participate in them. It’s speculative markets. It’s not currency. If you have the money that you are ready to leave, do not invest in these markets.»

Bostik – not the first representative of the Federal reserve system of the United States, which makes a loud statement in relation to cryptocurrencies. The former head of the Federal reserve Ben Bernanke (Ben Bernanke) said
in October last year that «government will do everything possible to stop bitcoin», while recognizing the potential of technology to improve the Ripple payment system.

Also last fall, the head of the Federal reserve Bank of Philadelphia, Patrick Harker (Patrick Harker) noted that bitcoin and other cryptocurrencies are unlikely to weaken the influence of Federal reserve on the US economy. In addition, in December last year, the fed Chairman Janet Yellen called
bitcoin is a «speculative asset». The Vice President Federal reserve Bank of Boston and other officials repeatedly said
the potential of the blockchain and that the technology will move SWIFT and other intermediaries.

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