Neel Kashkari made a statement on cryptocurrencies
August 18, 2021
Kashkari spoke, the cryptocurrency market has withdrawn! “Fraud, deception, bullshit for 95 percent of cryptocurrencies”
Neel Kashkari, Chairman of the US Federal Reserve (Fed) Minneapolis Branch, made negative statements about cryptocurrencies. Kashkari said 95 percent of cryptocurrencies are scams, deception, bullshit and mayhem. On the other hand, after the statements, Bitcoin was pulled below $ 45 thousand and Ethereum to the level of $ 3 thousand.
Continuing his negative statements about cryptocurrencies, Kashkari stated that those who argue that digital assets are needed are funny, claiming that the USA is heading towards communism and may collapse like Venezuela. After the statements, Bitcoin fell below $ 45 thousand, while Ethereum fell to the level of $ 3 thousand.
Speaking at the Pacific Northwest Regional Economics Annual Summit, Kashkari said, “I was very optimistic about crypto and Bitcoin 5-6 years ago. Now, 95 percent of cryptocurrencies are scams, deceptions, bullshit and mayhem.”
“I haven’t seen any of their uses other than funding illegal activities,” Kashkari said.
Bitcoin price is currently at the level of $ 45 thousand 190 after falling below $ 44 thousand 250. Despite the decline, the Bitcoin price is still 40 percent higher than a month ago and 54 percent higher than the beginning of the year.
Ethereum, on the other hand, fell to the level of $ 3,000.