Janet Yellen rips into Bitcoin, calls it highly speculative and inefficient SECTIONS Last Updated: Feb 22, 2021, 11:34 PM IST Share Synopsis “Bitcoin is an extremely inefficient way of conducting transactions and the amount of energy that's consumed in processing those transactions is staggering," Yellen said at the 2021 DealBook DC Policy Project. Bitcoin hits lowest since mid-Feb, falls below $50k; Yellen calls the cryptocurrency highly speculative Related MUMBAI: The US Treasury Secretary Janet Yellen today ripped into the world’s most famous and highest valued cryptocurrency Bitcoin as she termed it “highly speculative” and “inefficient” for transaction. “Bitcoin is an extremely inefficient way of conducting transactions and the amount of energy that's consumed in processing those transactions is staggering," Yellen said at the 2021 DealBook DC Policy Project.