Nobel Laureate Ben Bernanke Blasts Cryptocurrencies, Says Tokens ‘Demonstrate No Economic Value’

The collapse of cryptocurrency companies such as FTX has resulted in Jogi being one of the largest crypto exchanges, and crypto lenders such as Celsius and Blockfi being re-evaluated to provide real contributions to the analysts that are the crypto economists sector. Wherein Ben Bernanke, one of the most famous economists and co-winner of the Nobel Prize in 2022 for his research on the financial crisis of banks, expresses his opinion on crypto currency in view of the recent market situation and says that on December 7 Ko says in an interview published by a Swedish magazine that he does not think that cryptocurrencies can prove to be a threat to the current financial system because no bank is sitting on these assets nor has left their business on them. It would be grossly incorrect to say that it poses a threat to the financial system. He believes that no economic value has been shown for cryptocurrencies yet, while his negative opinion is nothing new as he has said many things in the past that match this type of thing where in May he Said that bitcoin has been used mostly for underground economy activity and illegal things and further stated that bitcoin is used as a form of power and he does not think it can ever reach the status of an alternative currency .
Many more experts have called for regulation on the cryptocurrency front to make more citizens aware of the mainstream and ways to access crypto. As far as saying that regulated or not, cryptocurrencies are destined to fail where in this regard It comes to the point that either they are not regularized or they will not be because they do not believe in them or when they are now regularized they do not work and are mostly used for crime activity whereas In the past he has been more open to the idea of bitcoin and other cryptocurrencies posing a threat to traditional fiat currencies, and back in 2017 he said he would stop if bitcoin became known to transact at par with traditional currencies. Rules will be issued for this where as per the comment it was said that governments may take any action to stop this eventually. According to the Nobel laureate, cryptocurrencies and bitcoins do not represent any kind of economic value, nor do we have any advantages like traditional currencies. They certainly explain the limited use of these currencies. Where such statements have been given before and many economists have expressed their views about the importance of bitcoin and crypto currency, out of which some positive and some negative have also come out, but we can say that the current market fame Given that more and more economists are advising to avoid bitcoin which according to them is the best advice and explaining to investors that they do not have any kind of economic value nor it will work for us in any way economically. are about to come. Here everyone has a different opinion on bitcoin and crypto.