Is Janet Yellen Good for The Crypto Economy?

Yellen’s history with the Fed does give me some concern over her ability to manage the current economic crisis and the growing mountain of debt we all carry (and don’t seem to worry about).

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Photo by Andrew Harnik of Associated Press
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What does this mean for the Crypto Community?

Janet Yellen’s economic philosophy is alarming, but her views on crypto are even more concerning. In the past, Ms. Yellen has said that Bitcoin is a “Highly Speculative Asset.” And just like many others, she has expressed concerns about the “Volatility of Bitcoin.” Oddly enough, Janet Yellen should have had more concern about the dramatic drop in the velocity of the USD and the decreasing value of the US dollar when she was the Federal Reserve Chair in 2018.

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What Needs To Be Done?

Crypto is the solution, not the problem. If US citizens were not worried about printing money or the velocity of the US Dollar, Bitcoin would not fetch $19,000.

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“The Crypto Blockchain future is here but to use it we have to leave the MMT past behind.”

Alex Mashinsky
Founder & CEO, Celsius

Founder of @CelsiusNetwork | Transit Wireless| Arbinet | Tech Innovator with over 50 patents and awards

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