Former Chairperson of the US Federal Reserve announced that Bitcoin has no value. — Coinzdaily
Former US Federal Reserve Chairman Janet Yellen said that Bitcoin is not a repository of value and has no value. The statement was published by the Canadian Kitco news portal on October 29th.
During an interview at the FinTech Forum in Canada in 2018 in Montreal, Yellen, known for its radical position on cryptocurrency and, in particular, Bitcoin, toughened its position on this cryptocurrency. Yellen said:
“It has long been thought that for something to be a useful currency, it needs to be a stable source of value, and bitcoin is anything but… It’s not used for a lot of transactions, it’s not a stable source of value, and it’s not an efficient means of processing payments. It’s very slow in handling payments. It has difficulty because of its very decentralized nature.”
Being present during Yellen’s speech, the CEO of Satoshi Portal, Francis Pouliot, was one of the first to condemn her words on social networks, calling them “The Official NPC [non-player character] guidelines for Bitcoin FUD, courtesy of the FED.”
It is worth noting that Yellen’s speech provoked a wave of criticism not only against her but also against other experts who adhere to this point of view.