San Francisco Fed President Declares Crypto Isn’t An Asset Like Gold
•
December 30, 2024 4:28 pm
•
Comments
San Fransisco Fed president Mary Daly has declared crypto isn’t an asset like gold.
While being interviewed on Yahoo’s Finance’s Opening Bid podcast, Daly shared, “I see crypto as a complicated thing, and the service we need to do for everyone is really unpack what we mean and call it what it is once we’ve done that.”
She added, “It can be a currency. It could be a medium of exchange. … It could be a stock — an asset to hold value or sometimes lose value. We just have to define those terms.”
“So I don’t think of it as like gold. It has properties like gold sometimes, but I don’t think of it like that,” added Daly.
Crypto only has value if the regulators allow it. China says no.
Gold has global, historical value that regulators can not take away, but govts can confiscate
Crypto isn't really an asset like gold, San Francisco Fed president Mary Daly says https://t.co/CZoitrPHKJ
— TSP Smart (@TSPsmart) December 30, 2024
Per Yahoo Finance:
Crypto should be viewed as its own asset class and not lumped in with gold (GC=F) as so often is the case, according to San Francisco Fed president Mary Daly.
“I see crypto as a complicated thing, and the service we need to do for everyone is really unpack what we mean and call it what it is once we’ve done that,” Daly said on Yahoo Finance’s Opening Bid podcast (see video above or listen below). “It can be a currency. It could be a medium of exchange. … It could be a stock — an asset to hold value or sometimes lose value. We just have to define those terms.”
“So I don’t think of it as like gold,” Daly added. “It has properties like gold sometimes, but I don’t think of it like that.”
Daly’s assessment differed slightly from that of Fed Chair Jerome Powell, who energized the crypto community earlier this month with his comments on bitcoin (BTC=F).
“People use bitcoin as a speculative asset,” Powell said at the New York Times DealBook conference. “It’s just like gold, only it’s virtual, it’s digital. People are not using it as a form of payment or as a store of value. It’s highly volatile. It’s not a competitor for the dollar; it’s really a competitor for gold.”
Crypto isn't really an asset like gold, San Francisco Fed president Mary Daly says https://t.co/cUEgExJUN8 by @BrianSozzi
— Yahoo Finance (@YahooFinance) December 30, 2024
Join the conversation!
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.