The Trojan Horse: Bitcoin is “Just” Digital Gold

The Trojan Horse: Bitcoin is “Just” Digital Gold

Bitcoin’s comparison as “merely” digital gold demonstrates that legacy financial bureaucrats are in for a rude awakening.Early on Monday morning, March 22, during the Bank of International Settlement’s Innovation Summit, Federal Reserve chair Jerome Powell had this to say about bitcoin or, in his words, “crypto assets”: “Crypto assets are highly volatile — see bitcoin — and therefore not really useful as a store of value. They’re not backed by anything. They’re more of an asset for speculation… It is essentially a substitute for gold rather than the dollar.” -Chair of the Federal Reserve....


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