According to Odaily, a Federal Reserve official, Kashkari, has voiced his skepticism about the practical use of Bitcoin and the value of central bank digital currencies. He reiterated his stance that Bitcoin has almost no real-world application, arguing that it is neither an investment tool nor a currency.
In addition, Kashkari expressed doubts about the value of central bank digital currencies. His comments reflect a broader skepticism within the financial sector about the role and value of digital currencies. Despite the growing interest in digital currencies, many officials and experts in the financial sector still have reservations about their practicality and value.
These comments come at a time when digital currencies are gaining increasing attention and acceptance globally. However, the skepticism expressed by officials like Kashkari underscores the ongoing debate about the role of digital currencies in the global financial system. Despite the growing interest and investment in digital currencies, there are still significant doubts about their practicality and value.