Nobel Laureate Ben Bernanke Blasts Cryptocurrencies, Says Tokens ‘Have Not Been Shown to Have Any Economic Value at All’

Ben Bernanke, erstwhile president of the Federal Reserve and besides the victor of the 2022 Nobel Prize successful economics, has precocious blasted the conception of cryptocurrencies. In an interrogation with Dagens Nyheter, 1 of the biggest Swedish journals, Bernanke remarked that cryptocurrencies person not proven they person immoderate economical worth astatine all.

Ben Bernanke Blasts Crypto

The demise of definite cryptocurrency companies similar FTX, which was 1 of the largest cryptocurrency exchanges, and besides crypto lenders specified arsenic Celsius and Blockfi, has made analysts reassess the existent publication that cryptocurrencies person connected the tract of economics.

Ben Bernanke, 1 of the astir renowned economists and co-winner of the 2022 Nobel Prize successful economics for his probe connected banks and fiscal crises, precocious stated his sentiment connected cryptocurrency successful the aftermath of the existent concern the marketplace is facing.

In an interrogation published by the Swedish diary Dagens Nyheter connected Dec. 7, Bernanke stated helium does not deliberation cryptocurrencies represent a menace to the existent fiscal strategy due to the fact that nary slope is sitting connected a ample heap of these assets. He stated:

I judge that truthful acold cryptocurrencies person not been shown to person immoderate economical worth astatine all.

Bernanke’s antagonistic sentiment connected crypto is not new, arsenic helium has besides made akin remarks successful the past. In May, Bernanke said bitcoin was utilized “mostly for underground system activities and often things that are amerciable oregon illicit.” He further explained that portion bitcoin is being utilized arsenic a speculative asset, helium does not deliberation it tin scope the presumption of an alternate currency.

Regulation Won’t Help

While respective experts person called for regularisation connected the cryptocurrency beforehand arsenic a mode for much citizens to scope crypto successful the mainstream, Bernanke argues that regulated oregon not, cryptocurrencies are destined to fail.

In this regard, helium explained:

Either they are not regulated and past they volition illness due to the fact that radical distrust them oregon they are regulated and past they volition illness due to the fact that they are mostly utilized for transgression activity.

However, successful the past, Bernanke was much unfastened to the thought of bitcoin and different cryptocurrencies becoming a menace to accepted fiat currencies. Back successful 2017, Bernanke stated that if bitcoin was adjacent to having adjacent transactionality arsenic accepted currencies, regulations would beryllium issued successful bid to halt it. At the clip helium remarked:

Eventually governments volition instrumentality immoderate enactment they request to forestall it.

What bash you deliberation astir the caller statements of Nobel Prize laureate Ben Bernanke connected the economical worth of cryptocurrencies? Tell america successful the comments conception below.

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