Raghuram Rajan, former governor of the Reserve Bank of India (RBI) and chief economist at the International Monetary Fund (IMF), sees value in bitcoin, cryptocurrencies, and Facebook-backed libra alongside central bank digital currencies.
Former RBI Governor’s View on Bitcoin, Crypto, and Libra
Former RBI governor Raghuram Rajan discussed possible future roles of cryptocurrency, particularly bitcoin, and Facebook-backed libra during CNBC’s “Beyond the Valley” podcast, published Wednesday. Rajan was the chief economist and director of research at the IMF from 2003 to 2006 and the 23rd Governor of the Reserve Bank of India between September 2013 and 2016. He became the vice-chairman of the Bank for International Settlements while serving as the RBI governor.
Rajan told the media outlet that cryptocurrency, bitcoin, and Facebook-backed libra could play a role in a world where central banks worldwide begin to issue their own digital currencies.
He called bitcoin a “speculative asset,” adding that “bitcoin is a little bit like gold, in…