Fed Chair Janet Yellen weighed in on bitcoin
at her final meeting as Federal Reserve chair. Responding to a
question from CNBC’s Steve Liesman, Yellen said that bitcoin is
“a highly speculative asset.” She added the
cryptocurrency “plays a very small role in the payments
system” and that it’s not a “stable store of legal tender.”
Bitcoin has been garnering attention on both Wall Street and Main
Street in the latter months of 2017. The cryptocurrency has
soared more than 1,500% this year.
Wednesday’s meeting was the final one for Yellen, whose term ends
in February. The Federal Open Market Committee meets on January
30-31, but there’s no press conference scheduled at the
conclusion of that meeting.
This story is developing.
Get the latest Bitcoin price here.>>