The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Tuesday that bitcoin and other cryptocurrencies are “like a giant garbage dumpster.” He would rather his one-year-old daughter have a low yielding Treasury bond than a bitcoin, emphasizing that all that’s emerging from the crypto world “is burning garbage.”
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Bitcoin and Crypto ‘a Giant Garbage Dumpster’
Minneapolis Federal Reserve President Neel Kashkari talked about cryptocurrencies, including bitcoin, at a Town Hall event in Kashkari, Montana, on Tuesday. He took office as president of the Federal Reserve Bank of Minneapolis in January 2016.
Washington Companies CEO Larry Simkins moderated the Q&A session at the event. He asked Kashkari: “Your daughter is a year old and if I want to buy her a gift, would you prefer I give her a low yielding Treasury bond or a bitcoin?” The Minneapolis Federal Reserve president laughed and then replied, “Between…