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Federal Reserve Boss Compares Bitcoin Volatility to Gold
Last Updated: 17 February 2021
Discussions about Bitcoin operating as a reliable currency variant have raged on this year, following the leading cryptocurrency’s stellar performance thus far. While some have continued to harp on the asset’s volatility, however, the Federal Reserve Bank of St. Louis has downplayed many of these concerns.
No Correlations With Policy Proposals
This week, Jim Bullard, the President of the St. Louis Federal Reserve Bank, appeared in an interview following Bitcoin reaching the $50,000 milestone. Bullard, whose Bank has been doing some extensive research on cryptocurrencies and the future of money, told CNBC’s Squawk Box that he believes Bitcoin is more like gold than many have let on.
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