Bill Dudley joined others in suggesting the only purpose of a US government Bitcoin reserve would be to reward Trump’s crypto supporters.
Another former financial official with the United States government has expressed concerns about President-elect Donald Trump’s intention to establish a national Bitcoin (BTC) reserve while in office.
In a Dec. 6 Bloomberg op-ed, economist and former New York Federal Reserve Bank President Bill Dudley said despite Bitcoin’s recent rise to more than $100,000, it was “hard to fathom” how the US government holding cryptocurrency would benefit residents.
Dudley said Bitcoin “hardly qualifies as money,” citing examples of people losing access to their crypto wallets and “slow and expensive” transactions.
