Criticism of Bitcoin’s intention at NYT event… “Investors are concerned about potential losses”
[로이터=연합뉴스 자료사진]
(New York = Yonhap News) Correspondent Kang Gun-taek = The head of the U.S. economy poured out criticism for the recent surge in the representative cryptocurrency Bitcoin.
US Treasury Secretary Janet Yellen opened a fire on the 22nd (local time) at a’Dealbook Conference’ hosted by The New York Times (NYT), saying, “I don’t think Bitcoin will be widely used as a trading mechanism.”
“I’m worried that it’s often used for illegal finance,” said Yelan. “Bitcoin is an extremely inefficient way to conduct a transaction, and the amount of energy consumed in the transaction is unbelievable.”
To mine Bitcoin, you have to solve complex mathematical equations using a computer, which consumes a lot of power. The power consumption used to mine Bitcoin is similar to the annual consumption of New Zealand as a whole, CNBC broadcasts.
“I think people should know that it’s a very speculative asset and extremely volatile,” said Yellen, not forgetting a warning to investors.
“We are concerned about the potential losses investors may suffer,” he added.
[로이터=연합뉴스 자료사진]
Because bitcoin is difficult to track, it is often used for illegal activities, and the governments and financial authorities of major countries are drawing attention due to the high volatility of prices.
However, as Tesla’s large investments and plans for dealing with several financial companies were announced one after another, prices surged amid anticipation that they are’entering the institutional sphere’, and for the first time, the price has surpassed the 50,000 dollar mark.
In this situation, the reason Minister Yellen raised the issue with a clear tone about the utility, legality, and volatility of Bitcoin seems to be because he was concerned about the side effects of excessive speculation.
Instead, Secretary Yellen showed expectations for its own digital currency being prepared by the Federal Reserve System (Fed), the US central bank.
“I think the so-called’digital dollar’ the Fed is talking about could be a faster, safer, and cheaper payment method,” he said.
At the event, Minister Yellen also emphasized the need for additional financial stimulus following the novel coronavirus infection (Corona 19).
“If we don’t spend as much as we need to get the economy on track quickly, we’ll incur fiscal costs,” said Secretary Yellen. “The US debt level is much higher than it was during the 2008 financial crisis, but because of the low interest rate, the interest burden on GDP today is It’s almost the same. There’s more financial space.”
He said, “It is a success if we can return to the level of employment before the pandemic (a global pandemic of the pandemic), especially if we can re-employ the unemployed in the service sector.”
Unauthorized reproduction-prohibition of redistribution>
2021/02/23 04:49 sent