While Bitcoin was trying to recover with the reaction from $ 55500, FED member Christopher Waller’s Bitcoin statements fell like a bombshell.
Christopher Waller has made the clearest definition of Bitcoin from the FED wing so far. Asked for his opinion on cryptocurrencies at a meeting he attended, Waller said, “We can simply say “digital gold” for Bitcoin.”
Expressing that cryptocurrencies rise because people value them, Waller said that something does not need to be useful for it to be valuable.
Saying that cryptocurrencies rise because people value it, Waller added that cryptocurrencies do not pose a threat to the system.
#Bitcoin is electronic gold
– Christopher W, Fed Reserve Board pic.twitter.com/hOnpOFEH7l
— Blockworks (@Blockworks_) November 19, 2021
Christopher Waller recently talked about stablecoin regulations and stated that lending activities do not need to be regulated like banking.