Speaking with CNBC’s Andrew Ross Sorkin, the former Federal Reserve Chairman Ben Bernanke, discussed whether or not he believes the U.S. is in for a recession and whether crypto can substitute as an alternate form of money. Regarding crypto the former Fed head stated: Bernanke added:
Is Bitcoin digital gold?
On the idea of being a store of value or some kind of version of digital gold well, the former Fed Chair elaborated: However, Anthony Pompliano, a renowned advocate of Bitcoin, remarked that Bernanke has a bias and that his views are “just factually inaccurate.” Pompliano said that Bernanke used to be an insider of the Federal Reserve and is thus an insider of the ‘money printing machine.’ Regarding the statement that most of the Bitcoin activity is for illicit purposes ‘Pomp’ argued: Last but not least, Pomp made the case for using Bitcoin at the supermarket to purchase goods there as well as top retailers from Shopify all the way down to Starbucks, Walmart, and McDonald’s, so he is confused about exactly where Ben Bernanke wants people to be able to spend Bitcoin. Watch: Former Fed Chair says Bitcoin will note become an alternative form of money
