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Bitcoin is a ‘great asset for central banks,’ economist tells Boom Bust

Bitcoin is a ‘great asset for central banks,’ economist tells Boom Bust
The price of bitcoin has fallen back, following a record spike of just above $61,500 over the weekend. RT’s Boom Bust explores what’s driving the cryptocurrency’s surge and whether central banks could hold it as an asset.

The hosts are joined by Jeffrey Tucker, of the American Institute for Economic Research, who says, “Central banks can hold anything as an asset, literally anything, and I know that’s pretty much true of the Fed.”

According to Tucker, bitcoin is “a great asset for central banks” and “it’s probably going to hold its value, as there’s not going to be any new money creation – unlike the fake national currencies that they make.”

“We’re on the verge of seeing a complete discrediting of monetary policy as we once knew it. So, bitcoin is a pretty good bet for central banks at this point. That could actually drive the markets higher,” he added.

For more stories on economy & finance visit RT's business section