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US Treasury doubts bitcoin and bets on a digital dollar

steve mike
US Treasury doubts bitcoin and bets on a digital dollar

US Treasury doubts bitcoin and bets on a digital dollar(bitcoin treasure)

The Secretary of the Treasury of the United States, Janet Yellen, assured that bitcoin continues not to be established as a payment method and she considers it as "an extremely inefficient way to carry out transactions."

This, after the cryptocurrency soared in the past weeks and has been adopted by companies like

Tesla for certain operations; After the dizzying rise, bitcoin now suffers a sharp decline.

In a virtual event held by The New York Times on Monday, Yellen considered that "the amount of energy that is consumed when processing transactions" with bitcoins is "staggering."

"I don't think bitcoin is a widely used transaction mechanism," Yellen said in the virtual interview.

However, Yellen was in favor of continuing to explore the possibility of a “digital dollar”,

maintained by the Federal Reserve and based on blockchain technology like the rest of cryptocurrencies.

In the opinion of the former president of the Federal Reserve, a digital dollar could be

"faster, safer and cheaper to make payments", but there are conditions that must be resolved beforehand.

Yellen said that doubts should be resolved about the impact it would have on the banking system, since it could lead to the outflow of deposits from traditional banks to the Federal

Reserve and perhaps the most appropriate thing is that the central bank is only a wholesaler of this type of digital payment method.

He also recalled that it is necessary to resolve questions about the stability of the financia system and how this new cryptocurrency issued by the US government would affect the fight against money laundering and capital evasion.

The price of bitcoin fell below $ 49,000 on Tuesday, losing more than 12%, after Tesla founder

Elon Musk, turned into an online guru in matters of cryptocurrencies and other types of favorite assets, over the weekend, say that it was overrated.

So far this year, bitcoin has exceeded the $ 58,000 barrier and has appreciated more than 80% thanks, among other things, to the fact that Tesla decided to invest in it. https://bitcointreasure.co

steve mike
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