[2018-03-28] President Of The Atlanta Federal Reserve Declares Crypto Is Not

[crazy-pilot]

President and CEO of the Federal Reserve Bank of Atlanta Raphael Bostic recently took a negative stance toward cryptocurrency investments at the annual meeting of Hope Global Forums, urging the US public to avoid digital currencies, as Bloomberg reported today, March 27.

At the meeting considered to be “the largest gathering of leaders in the world on behalf of empowering poor and underserved communities”, Bostic expressed criticism about cryptocurrency markets, claiming that digital currencies are not even currencies.

https://cointelegraph.com/news/president-of-the-atlanta-federal-reserve-declares-crypto-is-not-currency

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[FollowSynergy]

"If you have money you really need, do not put it in these markets,” - in regard of this part of his speech, Raphael Bostic did not said nothing new for the investors. This is a golden cryptocurrency rule: do not invest more, than you can afford to lose

His job as a CEO of Federal Reserve Bank also include providing customer protection policy, but cryptocurrencies like Bitcoin, are very volatile and unpredictable at the current moment to be loved by bankers.

[CryptoBry]

I am not surprised of this man's negative stance against cryptocurrency because he is part and parcel of the disrupted once cryptocurrency can gain real adoption by the masses. To many in his circle cryptocurrency is representing a new territory they may find hard to explore much more to control. In their mindset, they could never risk the exiting financial system to be revolutionize with something they are in the first place not a part of. Bankers should have no business with cryptocurrency because they can never be in one bed with it.