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Jerome Powell says cryptocurrencies are more of a speculative asset, Elon Musk to support …

Jerome Powell says cryptocurrencies are more of a speculative asset, Elon Musk to support China’s carbon emission plan

제롬파월 연준의장, 가상화폐는 투기성 자산..유용한 가치 저장 수단 아니다

Turning to some of the world economic headlines,
The price of Bitcoin dropped after Federal Reserve Chairman Jerome Powell said cryptocurrencies are more of a speculative asset.
…and Tesla’s CEO shared his optimistic views on China’s plan to address carbon emissions, and said the country will be its biggest market in the long term.
Our business correspondent, SEO Eun-kyung reports.
Fed chairman Jerome Powell has said that cryptocurrencies are very volatile, and therefore do not really serve as a useful store of value.
He said they are more a speculative asset that are essentially a substitute for gold rather than for the dollar.
After speaking at a virtual panel discussion on digital banking hosted by the Bank for International Settlements on Monday, Bitcoin prices sharply dropped.
The digital token stood at 56-thousand-990 U.S. dollars at 9 am Washington time, but went down to 54-thousand-620 dollars at 6pm, losing about four percent of its value.
Along with that, the Fed chairman stated that the central bank is in no hurry to develop its digital dollar.
He said that it would consider issuing a digital currency when Congress approves, if the public wants it, and also when the central bank believes there is a clear use.
Elon Musk said, in an interview with Chinese state television on Tuesday, he was impressed by the carbon emission goals set by the Chinese government.
He said he felt confident China is on the path towards being the greatest economy in the world, and added that the country will be Tesla’s biggest market in the long term.
The interview took place following reports that Chinese military had banned Tesla’s vehicles from entering its complexes over spying concerns.
Cameras equipped on the electric vehicles, as well as data the cars gather have been largely seen as the main cause of concern for China due to potential national security leaks.
In response, Elon Musk said Tesla would be shut down if its cars were used for spying in China or elsewhere.
SEO Eunkyung, Arirang News.

#Jerome_Powell #Cryptocurrency #Economy

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2021-03-24, 07:00 (KST)

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