Cryptos: Bitcoin drops further below key $50,000 level after Yellen calls it ‘extremely inefficient’

Bitcoin and other cryptocurrency prices tumbled on Tuesday, after a sharp warning from Treasury Secretary Janet Yellen. “It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering,” Yellen said in an interview with the New York Times’ Dealbook late on Monday. It isn’t the…

Yellen Cryptos Bitcoin
... an interview with the New York Times' Dealbook late on Monday. It isn't the first time she has criticized the cryptocurrency, which she said is often used for illegal transactions.

However, Yellen, also said digital currencies were likely here to stay and that a digital dollar could serve as an easier payment system for many Americans who don't have that access.

The price of bitcoin

...

Read original at MarketWatch.com - Top Stories

"Related" to bitcoin yellen schiff:

Snippets from related news

Cryptos: Bitcoin drops further below key $50,000 level after Yellen calls it ... from Treasury Secretary Janet Yellen. Its an extremely ... for illegal transactions. However, Yellen, also said digital ... Executive Peter Schiff,who defended gold over bitcoin. Gold is ...
Bitcoin Drops Below $50K After Elon Musk, Janet Yellen's Bearish Comments ... from Treasury Secretary Janet Yellen and Tesla Inc (NASDAQ: ... exchange with gold bug Peter Schiff. That said, BTC & ETH ... at $1,627.99. Related Link: Bitcoin Might Be Tanking But ...

 

Related News

Same category stories

Get our stories delivered

From us to your inbox weekly.