Wednesday, July 30, 2025
  • Login
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
CRYPTO MARKETCAP
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result

Bitcoin Is Primarily Utilized in Underground Financial system for Illicit Actions – Featured Bitcoin Information

by SB Crypto Guru News
May 17, 2022
in Bitcoin
Reading Time: 3 mins read
0 0
A A
0


Bitcoin Is Primarily Utilized in Underground Financial system for Illicit Actions – Featured Bitcoin Information

Former Federal Reserve chairman Ben Bernanke says the primary use of bitcoin is “largely for underground financial system actions and infrequently issues which are unlawful or illicit.” He added, “I don’t assume bitcoin goes to take over instead type of cash.”

Ben Bernanke on Bitcoin, Cryptocurrency

Former Federal Reserve chairman Ben Bernanke shared his view on bitcoin and different cryptocurrencies in an interview with CBNC Monday.

Bernanke is an economist who served two phrases because the chairman of the U.S. Federal Reserve, from 2006 to 2014. He oversaw the Fed’s response to the late 2000s monetary disaster throughout his tenure as chairman.

Noting that the values of bitcoin and different cryptocurrencies change minute-to-minute, he stated Monday:

They’ve been profitable as a speculative asset.

Nonetheless, he identified that “They have been meant to be an alternative to fiat cash,” including that “in that respect, they haven’t succeeded.”

He continued: “If bitcoin have been an alternative to fiat cash, you possibly can use your bitcoin to go purchase your groceries. No person buys groceries with bitcoin as a result of it’s too costly and too inconvenient to try this. Furthermore, the value of groceries … varies radically day-to-day by way of bitcoin so there is no such thing as a stability both.”

He opined:

The primary use of bitcoin is usually for underground financial system actions and infrequently issues which are unlawful or illicit.

Bernanke additional stated:

I don’t assume bitcoin goes to take over instead type of cash.

Nonetheless, he expects that bitcoin and cryptocurrencies “will likely be round so long as individuals are believers they usually need to speculate.”

When requested if BTC is a retailer of worth or digital gold in his opinion, Bernanke insisted that “it’s a speculative asset.”

What do you consider the feedback by Ben Bernanke? Tell us within the feedback part under.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a suggestion to purchase or promote, or a advice or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, immediately or not directly, for any harm or loss triggered or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.

Extra Standard Information

In Case You Missed It





Source link

Tags: ActivitiesBitcoinBitcoin NewsCrypto NewsCrypto UpdatesEconomyFeaturedIllicitLatest News on CryptoNewsSB Crypto Guru NewsUnderground
Previous Post

Bitcoin 2022 Bazaar 5 Stalls

Next Post

Has Fintech Failed? – Finovate

Related Posts

BlackRock Staking For Its Spot Ethereum ETF Has Been Acknowledged — But What’s Coming For ETH?

BlackRock Staking For Its Spot Ethereum ETF Has Been Acknowledged — But What’s Coming For ETH?

by SB Crypto Guru News
July 30, 2025
0

The US Securities and Exchange Commission (SEC) has acknowledged a Nasdaq filing proposing an amendment to BlackRock iShares Ethereum Trust...

Coinbase, JPMorgan Chase Partner to Simplify Crypto Access for Chase Customers

Coinbase, JPMorgan Chase Partner to Simplify Crypto Access for Chase Customers

by SB Crypto Guru News
July 30, 2025
0

Coinbase and JPMorgan Chase announced a partnership Wednesday to provide Chase’s over 80 million customers with new ways to access...

Strategy Buys .46B Bitcoin As ETH Firm BTCS Plans B Raise

Strategy Buys $2.46B Bitcoin As ETH Firm BTCS Plans $2B Raise

by SB Crypto Guru News
July 30, 2025
0

Join Our Telegram channel to stay up to date on breaking news coverage Corporate crypto accumulation continues after Michael Saylor’s...

SEC Delays Truth Social Bitcoin ETF Decision — New Deadline Sparks Crypto Startup Buzz

SEC Delays Truth Social Bitcoin ETF Decision — New Deadline Sparks Crypto Startup Buzz

by SB Crypto Guru News
July 30, 2025
0

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The U.S. Securities and Exchange Commission (SEC)...

[LIVE] ETH Price Rises As The Crypto Market Falls — MicroStrategy Keeps Accumulating Bitcoin: Best Crypto To Buy?

[LIVE] ETH Price Rises As The Crypto Market Falls — MicroStrategy Keeps Accumulating Bitcoin: Best Crypto To Buy?

by SB Crypto Guru News
July 30, 2025
0

The crypto market is flashing mixed signals, leaving investors wondering what are the best crypto to buy right now. While...

Load More
Next Post
Has Fintech Failed? – Finovate

Has Fintech Failed? - Finovate

How To not Run a Crypto Alternate

How To not Run a Crypto Alternate

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Facebook Twitter LinkedIn Tumblr RSS

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.