Former Federal Reserve Chair Ben Bernanke took a leaf out of Jamie Dimon’s playbook Monday by talking up the benefits of blockchain while damning cryptocurrency to failure.
Ben Bernanke didn’t have nice things to say about bitcoin on Monday, and dismissed any notion that blockchain currency could rival government-controlled fiat money.
“Bitcoin is an attempt to replace fiat currency and evade regulation and government intervention. I don’t think that’s going to be a success,” Bernanke said while speaking in Toronto. “Eventually governments will take any action they need to prevent [that].”
In August, Bernanke told a conference hosted by Ripple that bitcoin is a “mostly speculative venture” that “hasn’t shown itself to be a real transactional currency.”
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