Ben Bernanke, a former head of the Federal Reserve in the US, does not see bitcoin as a currency, store of value, or digital gold.
Ben Bernanke spoke to CNBC today and “If bitcoin were to replace fiat money, bitcoin would be available for shopping. But nobody does their shopping with bitcoin because it is expensive and difficult to use.” said.
Talking about the volatility in Bitcoin price, Bernanke explained the price of products and services. in bitcoin stressed the difficulty of expressing
Bernanke, who chaired the Fed from 2006 to 2014, doesn’t look like gold is thinking. “Gold also has a use-based value.” said Bernanke, “You can also coat teeth (with gold). Bitcoin is basically used for ransomware attacks or something like that.” he added.
Commenting on current monetary policies and inflation rates, Bernanke fast enough criticized the Fed for not tightening.