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Federal Reserve Chairman Jerome Powell said he could consider a return to a time when several currencies were being used in the United States.
In his testimony before the Senate Committee of Banks and Banks on Facebook's Libra cryptocurrency, he said: "The size of the Facebook network means that it could be of immediate systemic importance."
Although this initiative has given rise to "many serious concerns", including privacy, money laundering, consumer protection and financial stability, he has begun to speak favorably about other cryptocurrencies. .
"Hardly anyone uses Bitcoin for payments, they use it more as an alternative to gold," he said Thursday afternoon. "It's a speculative reserve of value."
Powell said in the past that the United States should not return to the gold standard. Some took the statement as referring to a call to "drop gold, buy bitcoin".
. The Fed Chairman states that Bitcoin is a valuable store and that it will never come back to the standard. He literally says DROPGOLD. It should be featured in the next DROPGOLD campaign ad. pic.twitter.com/U3Bt7RN4O6
– Simon (@ Simon23105395) July 11, 2019
Until where we came from. The President of the Federal Reserve has just compared bitcoin to gold
People, it's happening https: //t.co/onVmTj4hUk
– Barry Silbert (@barrysilbert) July 11, 2019
Disclosure: Silbert is head of DCG, owner of CoinDesk.
Image via Shutterstock.
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