Former Fed Chair Janet Yellen Is 'Not A Fan' of Bitcoin By CoinDesk

Former Fed Chair Janet Yellen Is 'Not A Fan' of Bitcoin

Cryptocurrency Nov 01, 2018 03:15AM ET

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Former Fed Chair Janet Yellen Is 'Not A Fan' of Bitcoin

Former U.S. Federal Reserve chair Janet Yellen is "not a fan" of bitcoin.

Speaking at the Canada Fintech Forum on Monday, Yellen, who served as chairman of the Board of Governors of the Fed between 2014 and 2018, outlined a number of concerns she has with bitcoin in general and the idea of central bank-issued cryptocurrencies specifically.

Yellen spoke about price volatility, investor risks and the threat of hackings in a five-minute speech, according to a video posted online by Francis Pouliot.

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Comments (1)

Marie Vander Heiden Jan 22, 2021 2:14PM ET

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Cryptocurrency is never going away, it is the Future. Janet Yellen needs to spend a lot more time with her research and looking into the cryptocurrency, blockchain, mining, bitcoin/altcoin and binary futures before she bashes it. The safety and security is FAR greater than the banks. I know, I had my own bank account hit by scammers, directly through the institution, and they froze my account for 22 days! I have not had a single concern or error with my cryptocurrency accounts. Janet is of course, right now looking after her own stocks and financial future which is based in the 'traditional' form. She may also find cryptocurrency intimidating...like many. But, the traditional form is not the future and like the dinosaur, it will disappear like combustion transport, coal mines and oil drilling.

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