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  4. Former Fed Chair is confident Bitcoin will not ‘take over as alternate form of money’
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Former Fed Chair is confident Bitcoin will not ‘take over as alternate form of money’

There has been a lot of debate over Bitcoin’s viability as a medium of exchange since the flagship asset shot into the limelight in 2017. While many proponents of Bitcoin...
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Former Fed Chair is confident Bitcoin will not ‘take over as alternate form of money’ © Reuters Former Fed Chair is confident Bitcoin will not ‘take over as alternate form of money’

There has been a lot of debate over Bitcoin’s viability as a medium of exchange since the flagship asset shot into the limelight in 2017. While many proponents of Bitcoin believe that the asset class is already revolutionizing financial transactions, some believe Bitcoin has a chance at replacing traditional fiat currencies.

In a recent appearance on CNBC, former Federal Reserve Chairman Ben Bernanke voiced his thoughts on whether digital assets could act as an alternate form of money amid the growing concerns of recession and rising prices of energy and food. He said:

Bitcoin and other currencies whose value changes minute to minute have been successful you see the downside of that right now. But they were intended to be a substitute for fiat money. In that respect, they have not succeeded. If they’re a substitute for fiat money, you can use your Bitcoin to buy groceries, nobody does that because it is too much convenience.
Like other government officials, Bernanke was quick to highlight Bitcoin’s use case in illicit activity, with the former exec claiming that the asset’s primary use is mainly for underground economy activities.

Bernanke goes on to caution investors who view Bitcoin as a store of value, noting that the cryptocurrency is a speculative asset and will be subject to “a lot more regulation.” However, renowned crypto advocate Anthony Pompliano quickly stepped forward to defend Bitcoin, slamming Bernanke for being biased.

Pompliano noted that the exec’s views are “factually inaccurate,” debunking the claim that Bitcoin is mainly used for illicit purposes.

We have people like the former acting director of the CIA who’s gone onto the blockchain analyze the transactions and come out to an estimation that point four percent of all transactions are for nefarious or illicit purposes.

Continue reading on BTC Peers

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31-03-2024 10:19:50 (UTC+7)

EUR/USD

1.0793

+0.0006 (+0.06%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

EUR/USD

1.0793

+0.0006 (+0.06%)

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Sell

Moving Avg:

Buy (4)

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GBP/USD

1.2624

+0.0002 (+0.02%)

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USD/JPY

151.38

0.01 (0.00%)

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↑ Buy

Moving Avg:

Buy (12)

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AUD/USD

0.6522

+0.0007 (+0.11%)

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USD/CAD

1.3543

+0.0006 (+0.04%)

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EUR/JPY

163.37

+0.12 (+0.07%)

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Moving Avg:

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EUR/CHF

0.9738

+0.0010 (+0.10%)

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Gold Futures

2,254.80

42.10 (1.90%)

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Buy

Moving Avg:

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Silver Futures

25.100

+0.002 (+0.01%)

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Copper Futures

4.0115

-0.0003 (-0.01%)

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Crude Oil WTI Futures

83.11

+1.76 (+2.16%)

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Brent Oil Futures

86.99

+0.04 (+0.05%)

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Neutral

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Natural Gas Futures

1.752

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188.53

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Euro Stoxx 50

5,082.85

+1.11 (+0.02%)

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S&P 500

5,254.35

+5.86 (+0.11%)

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18,504.51

+27.42 (+0.15%)

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7,952.62

+20.64 (+0.26%)

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16,541.42

0.00 (0.00%)

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Neutral

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US Small Cap 2000

2,120.15

+5.80 (+0.27%)

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Neutral

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IBEX 35

11,074.60

-36.70 (-0.33%)

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↑ Sell

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52.930

-0.320 (-0.60%)

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Bayer AG NA

28.43

+0.01 (+0.04%)

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Allianz SE VNA O.N.

277.80

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Deutsche Lufthansa AG

7.281

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176.96

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14.582

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 EUR/USD1.0793Sell
 GBP/USD1.2624Sell
 USD/JPY151.38↑ Buy
 AUD/USD0.6522Sell
 USD/CAD1.3543Buy
 EUR/JPY163.37↑ Sell
 EUR/CHF0.9738↑ Buy
 Gold2,254.80Buy
 Silver25.100↑ Buy
 Copper4.0115↑ Buy
 Crude Oil WTI83.11↑ Buy
 Brent Oil86.99Neutral
 Natural Gas1.752↑ Sell
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,254.35↑ Sell
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,120.15Neutral
 IBEX 3511,074.60↑ Sell
 BASF52.930↑ Buy
 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,910/ 8,080
(7,910/ 8,080) # 1,364
SJC HCM7,830/ 8,080
(0/ 0) # 1,364
SJC Hanoi7,830/ 8,082
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SJC Danang7,830/ 8,082
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SJC Nhatrang7,830/ 8,082
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SJC Cantho7,830/ 8,082
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Cập nhật 31-03-2024 10:19:52
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ↀ Giá vàng thế giới
$2,232.75-1.61-0.07%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.82+5.390.07%
Brent$86.82+5.180.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.600,0024.970,00
EUR26.020,0327.447,78
GBP30.490,4131.787,64
JPY158,93168,22
KRW15,9119,28
Cập nhật lúc 10:12:31 31/03/2024
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