President of the Federal Reserve Bank St. Louis, James Bullard appeared to share his views on the development of Bitcoin and its impact on the currency especially the US dollar. He said in a statement that the crypto currency would not pose a threat to the US dollar.
President St. The Louis Fed says the popularity of Bitcoin, which largely attracts the market due to the multiple price spikes, will not be able to threaten the US dollar as a world reserve currency. Bullard is an economist who has been president of the Federal Reserve Bank of St. Louis since 2008.
It does not matter if the price of gold goes up or down, or the price of bitcoin goes up or down. It will not affect the US dollar ", continued Bullard. However, Bullar expressed concern over the development of financial transactions using cryptocurrencies that are increasingly widespread.
Historically, before the civil war, banks such as Bank of America, JPMorgan, and Wells Fargo had each issued their own currency. But as a result it is not liked by many people. Therefore, he expects bitcoin to face the same fate, he explained.
Meanwhile, some analysts disagree and are less optimistic about the U.S. dollar. like Bullard.
