KronosSlott
  • Altcoin
  • Bitcoin
  • Blockchain
  • Ethereum
  • Litecoin
  • Gambling

Subscribe to Updates

Get the latest Crypto news from kronosslott.

What's Hot

Bitcoin Reclaims $28K, Closed its Third Best March in History (Weekend Watch)

April 1, 2023

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

March 31, 2023

XRP, XLM, CFX, XDC and MASK rank among the top 5 altcoin gainers in March

March 31, 2023
Facebook Twitter Instagram
  • Affiliate Disclosure
  • Anti Spam Policy
  • Cookie Policy
  • Privacy Policy
  • Terms & Conditions
Facebook Twitter Instagram
KronosSlott
  • Altcoin
  • Bitcoin
  • Blockchain
  • Ethereum
  • Litecoin
  • Gambling
KronosSlott
Home » Nobel Laureate Ben Bernanke Blasts Cryptocurrencies, Says Tokens ‘Have Not Been Shown to Have Any Economic Value at All’ – News Bitcoin News

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

adminBy adminDecember 12, 2022No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
Nobel Laureate Ben Bernanke Blasts Cryptocurrencies, Says Tokens 'Have Not Been Shown to Have Any Economic Value at All'
Share
Facebook Twitter LinkedIn Pinterest Email


Ben Bernanke, former chairman of the Federal Reserve and also the winner of the 2022 Nobel Prize in economics, has recently blasted the concept of cryptocurrencies. In an interview with Dagens Nyheter, one of the biggest Swedish journals, Bernanke remarked that cryptocurrencies have not proven they have any economic value at all.

Ben Bernanke Blasts Crypto

The demise of certain cryptocurrency companies like FTX, which was one of the largest cryptocurrency exchanges, and also crypto lenders such as Celsius and Blockfi, has made analysts reassess the real contribution that cryptocurrencies have on the field of economics.

Ben Bernanke, one of the most renowned economists and co-winner of the 2022 Nobel Prize in economics for his research on banks and financial crises, recently stated his opinion on cryptocurrency in the wake of the current situation the market is facing.

In an interview published by the Swedish journal Dagens Nyheter on Dec. 7, Bernanke stated he does not think cryptocurrencies constitute a threat to the current financial system because no bank is sitting on a large pile of these assets. He stated:

I believe that so far cryptocurrencies have not been shown to have any economic value at all.

Bernanke’s negative opinion on crypto is not new, as he has also made similar remarks in the past. In May, Bernanke said bitcoin was used “mostly for underground economy activities and often things that are illegal or illicit.” He further explained that while bitcoin is being used as a speculative asset, he does not think it can reach the status of an alternative currency.

Regulation Won’t Help

While several experts have called for regulation on the cryptocurrency front as a way for more citizens to reach crypto in the mainstream, Bernanke argues that regulated or not, cryptocurrencies are destined to fail.

In this regard, he explained:

Either they are not regulated and then they will collapse because people distrust them or they are regulated and then they will collapse because they are mostly used for criminal activity.

However, in the past, Bernanke was more open to the idea of bitcoin and other cryptocurrencies becoming a threat to traditional fiat currencies. Back in 2017, Bernanke stated that if bitcoin was near to having equal transactionality as traditional currencies, regulations would be issued in order to stop it. At the time he remarked:

Eventually governments will take any action they need to prevent it.

What do you think about the recent statements of Nobel Prize laureate Ben Bernanke on the economic value of cryptocurrencies? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Al Teich, Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It





Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
admin
  • Website

Related Posts

Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits – Exchanges Bitcoin News

December 12, 2022

What is a Doji candle pattern and how to trade with it?

December 12, 2022

Bitcoin Price Slides As Markets Brace For Fed Policy Decision And Inflation Data

December 12, 2022

Comments are closed.

Don't Miss

Bitcoin Reclaims $28K, Closed its Third Best March in History (Weekend Watch)

Litecoin April 1, 2023

Bitcoin bounced off in the last hours of March, reclaiming $28,000 and posting a 23%…

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

March 31, 2023

XRP, XLM, CFX, XDC and MASK rank among the top 5 altcoin gainers in March

March 31, 2023

Taking the Plunge: A Comprehensive Guide on How to Buy USDT in Dubai

March 31, 2023
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Our Picks

Bitcoin Reclaims $28K, Closed its Third Best March in History (Weekend Watch)

April 1, 2023

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

March 31, 2023

XRP, XLM, CFX, XDC and MASK rank among the top 5 altcoin gainers in March

March 31, 2023

Taking the Plunge: A Comprehensive Guide on How to Buy USDT in Dubai

March 31, 2023

Subscribe to Updates

Get the latest Crypto news from kronosslott.

About Us
About Us

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook Twitter Pinterest YouTube WhatsApp
Categories
  • Altcoin (17)
  • Bitcoin (2,020)
  • Blockchain (1,069)
  • Ethereum (332)
  • Gambling (2,082)
  • Litecoin (99)
  • NFTs (2)
Our Picks

Bitcoin Reclaims $28K, Closed its Third Best March in History (Weekend Watch)

April 1, 2023

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

March 31, 2023

XRP, XLM, CFX, XDC and MASK rank among the top 5 altcoin gainers in March

March 31, 2023
©2022 –Kronosslott. All Rights Reserved. Kronosslott.com is an independent i-Gaming news site and casino comparison service. Every effort is made to ensure that the bonus offers listed here are accurate and up-to-date. However, we accept no responsibility for inaccuracies or errors. It is your responsibility to confirm the terms of any promotion you choose to accept. Looking to Advertise with us? Kronosslott is always looking for new partnerships. To Inquire please email kronosslott@gmail.com

Type above and press Enter to search. Press Esc to cancel.