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Janet Yellen Calls Bitcoin A "Highly Speculative" Asset

Mary Liu

Summary: Treasury Secretary Janet Yellen told CNBC today that Bitcoin has been highly volatile in recent years and is a “highly speculative asset”.  In terms of regulation, the former Fed chair believes any action must be related to protecting investors. She said: "I think it's important to make sure that it is not used as a ...

Treasury Secretary Janet Yellen told CNBC today that Bitcoin has been highly volatile in recent years and is a “highly speculative asset”. 

In terms of regulation, the former Fed chair believes any action must be related to protecting investors. She said: "I think it's important to make sure that it is not used as a vehicle for illicit transactions and that there’s investor protection... And so regulating institutions that deal in Bitcoin, making sure that they adhere to their regulatory responsibilities, I think is certainly important."

According to Bitpush data, Bitcoin has seen its record-high on Wednesday with above $52K.

By Mary Liu

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