Fed's Bostic Has a Message on Cryptocurrencies: ‘Don't Do It’
- Atlanta Fed leader says Bitcoin is speculative, not money
- Comments are latest skepticism from Fed toward cryptocurrency
Bitcoin: What’s Coming in the Year Ahead
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Federal Reserve Bank of Atlanta President Raphael Bostic has a short message about cryptocurrencies like bitcoin: Avoid!
“Don’t do it,’’ Bostic told an audience in Atlanta Tuesday at the Hope Global Forums annual meeting, which promotes financial inclusion, young entrepreneurs and affordable housing. “They are speculative markets. They are not currency. If you have money you really need, do not put it in these markets.’’