Janet Yellen smashes Bitcoin – MacroBusiness

US Treasury Secretary, Janet Yellen, weighed in on Bitcoin last night, clearly on the negative side. This is important:
It is a highly speculative asset and you know I think people should be aware it can be extremely volatile and I do worry about potential losses that investors can suffer.
I don’t think that Bitcoin is widely used as a transaction mechanism. To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount…

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