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Janet Yellen Blasts Bitcoin, Says It Is ‘Inefficient for Transactions and Speculative’
Coinfomania
Mon, Feb 22, 2021 6:29 PM by Coinfomania
Janet Yellen Blasts Bitcoin, Says It Is ‘Inefficient for Transactions and Speculative’
Janet Yellen, the United States Treasury Secretary, has condemned Bitcoin’s technological prowess, describing the cryptocurrency is highly speculative and inefficient in transactions. Yellen made her comments known today at the 2021 DealBook DC Policy Project, an event moderated by New York The Times’ Andrew Ross Sorkin, which features debate from top policymakers and business leaders suggesting ways to move the U.S. and the world forward. Despite the opportunities associated with Bitcoin, the former chief of the U.S. Federal Reserve noted that the digital currency’s use in payment is ineffective because of the high energy consumption involved in processing its transactions. Bitcoin Dips
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