STOCKHOLM, Dec. 7 (Xinhua) — Cryptocurrencies have no value whatsoever and therefore cannot shake the financial system, Ben Bernanke, winner of this year’s Nobel Prize in Economics, was quoted as saying by Dagens Nyheter (DN) on Wednesday. .
Bernanke dismissed the crash for cryptocurrencies, saying that “I think cryptocurrencies so far have not proven to have any economic value at all.”
Cryptocurrencies, such as Bitcoin, have plummeted in value over the course of the year. They are not a threat to the financial system because no bank, as far as he knows, is sitting on large assets in cryptocurrencies, he said.
On October 10, the Royal Academy of Sciences awarded the Sveriges Riksbank Prize in Economic Science 2022 in memory of Alfred Nobel to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig “for research on banks and financial crises”.
Source: sn.dk