• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: World Liberty Financial Accuses Exchange Of Token Manipulation, Justin Sun Blacklisted
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: World Liberty Financial Accuses Exchange Of Token Manipulation, Justin Sun Blacklisted
U.S. Federal Reserve Chair Janet Yellen Downplays Bitcoin

U.S. Federal Reserve Chair Janet Yellen Downplays Bitcoin

Julio Gil-Pulgar
by Julio Gil-Pulgar
7 years ago
·
Posted in Bitcoin Regulation, Bitcoin, Bitcoin Acceptance, Bitcoin Politics, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

U.S. Federal Reserve Chair Janet Yellen finally revealed her thoughts about Bitcoin. She thinks that the digital currency’s potential risk is limited. Therefore, Bitcoin is incapable of affecting financial markets. Yellen made her comments during her final press conference, on December 13, 2017.


U.S. Federal Reserve Does Not Regulate Bitcoin

Janet Yellen, throughout her tenure as Federal Reserve Chair, had not made many references about the cryptocurrency. However, now that she is about to leave her position, in her last press conference, while announcing an increase in U.S. interest rates, she surprisingly mentioned Bitcoin.

Specifically, Yellen referred to Bitcoin as a “highly speculative asset,” and that “it does not constitute legal tender.” Moreover, she indicated that the cryptocurrency is “not a stable store of value.”

In this regard, she concurs with her colleague New York Fed President William Dudley who also doubts that Bitcoin is a good store of value. According to Bloomberg, last month, Dudley expressed his skepticism about Bitcoin, saying “I would be, at this point, pretty skeptical of bitcoin. I think it’s really more of a speculative activity.”

However, the good news is that Yellen does not seem to view the cryptocurrency as an imminent threat to the U.S. financial system. She declared:

Bitcoin at this time plays a very small role in the payment system.

Central Bankers Are Still Skeptical About Cryptocurrencies

Central Bankers Are Still Skeptical About Bitcoin

Yellen’s tenure as Fed Chair ends in February 2018. Her comments about the cryptocurrency do not differ from those expressed by her peers.

For example, the Governor of the Reserve Bank of Australia Governor Philip Lowe, referring to Bitcoin’s current “fascination,” said that it “feels more like speculative mania than it has to do with their use” as a form of payment.

Similarly, the European Central Bank chief Mario Draghi also considers that cryptocurrencies are immature. As CNBC reported, Draghi said:

Cryptocurrencies are not ‘mature’ enough to be considered by the European Central Bank (ECB) for regulation.

A few days ago, Former Chairman of the U.S. Federal Reserve Alan Greenspan also dismissed the digital currency. Greenspan said, “Bitcoin is not rational,” and compared it with a fiat currency that the U.S. Continental Congress minted in 1775 to finance the American revolutionary war effort.

Bitcoin and its blockchain technology are a threat to the three-thousand-year-old monetary system and the unfair, obsolete banking system. Understandably, their representatives scorn or downplay cryptocurrencies. And most likely, they will never change their minds. Nevertheless, with a growth of over 1,700 percent in one year, Bitcoin and other cryptocurrencies will continue to grow and eventually challenge the current fiat monetary system.

Do you think that Federal Reserve Chair Janet Yellen’s departure will have an effect on Bitcoin? Let us know in the comments below.


Images courtesy of Reuters/Jonathan Ernst, Wikimedia Commons, Pixabay

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Julio Gil-Pulgar

Julio Gil-Pulgar

Follow

Julio has worked for Fortune 100 companies and the United Nations. He has led projects involving IT, operational, and compliance audits, in the U.S. and throughout the world. His expertise is in cryptocurrencies, IT engineering, risk management, and security. Julio is also a tango dance enthusiast.

Full Profile

Related Posts

Bitcoin

Corporate Bitcoin Allocation Climbs As Companies Invest 22% Of Profits: Study

15 hours ago
Bitcoin

Bitcoin Payments Now Accepted By Top UAE Developer For Real Estate

1 day ago
cours-or-nouveau-record-chute-btc

Record de l’or et chute du Bitcoin : que se passe-t-il ?

2 days ago
Metaplanet

Metaplanet Pushes Bitcoin Holdings Over $2 Billion With New Purchase

3 days ago
solana-analyse-tendance-leviers-techniques

Solana en route vers les 300 $ : analyse de la tendance des leviers techniques

3 days ago
Bitcoin

Bitcoin Mining Can’t Keep Up: Companies Buying At Quadruple Pace – Report

3 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • miner

    ADA’s path to long-term success: Integrating with...

    11 hours ago
  • Bitget and Bitget Wallet Support Trading of Over 100...

    13 hours ago
  • miner

    XRP Price From a High of $3.65 to a Low of $2.72: How GMO...

    16 hours ago
  • miner

    7 Trending Crypto Mining Apps This Year That Give Free...

    18 hours ago
  • mining

    6 Most Reliable Crypto Mining Software to Help Miners...

    19 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.