In an appearance on CNBC, Richmond Federal Reserve president Jeffrey Lacker noted that the fed simply doesn’t have any interest in stopping bitcoin. Lacker calls the digital currency “private money” and doesn’t see why the fed should have to do anything about it.
“They’re going to have trouble gaining market share if its value’s going to fluctuate so much, but it’ll be interesting to watch,” said Lacker. “It’s a free market and I don’t see why they have an interest in stopping it.”
But some may question the authenticity of such statements. Does the fed really not care to do anything? Could that stance change when/if bitcoin continues to grow larger?
Questions to think upon, but it could very well be considered great news in the meantime.
The Federal Reserve Bank of Richmond is one of 12 Fed districts in the United States, and is the second largest by assets held (with the New York bank being the largest). Watch the CNBC interview here.