Dudley of the New York Fed among the Bitcoin skeptics



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The president of the Federal Reserve Bank of New York, William Dudley, does not share the excitement over the bitcoin that has taken the currency to a historical record.

"In terms of bitcoin, I would be quite cautious about it, I think it's not a stable deposit of value," Dudley said in response to questions at an event in New Jersey on Wednesday. "It would be, at this point, quite skeptical of Bitcoin, I think it's really more a speculative activity."

The digital currency has galloped beyond $ 11,000, stoking fears of creating a bubble that could explode, such as the collapse of the dotcom and the collapse of the mortgage market that led to the financial crisis. , Dudley pointed out that Bitcoin is different in that it is still a niche market. "Bitcoin is very small in relation to the amount of payment transactions that are executed in the United States," he said.

"I think at this point it's really very premature. It's premature to talk about the Federal Reserve offering digital currencies, but it's something we're beginning to think about."

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