{"id":140258,"date":"2024-10-22T08:00:05","date_gmt":"2024-10-22T05:00:05","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=140258"},"modified":"2024-10-22T00:28:51","modified_gmt":"2024-10-21T21:28:51","slug":"fed-official-dismisses-cryptos-real-world-use-but-analysts-see-growth-ahead","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/fed-official-dismisses-cryptos-real-world-use-but-analysts-see-growth-ahead\/","title":{"rendered":"Fed Official Dismisses Crypto&#8217;s Real-World Use, But Analysts See Growth Ahead"},"content":{"rendered":"<p>Speaking at an <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">event<\/a> <\/strong>in Wisconsin, Kashkari remarked that while cryptocurrencies are being traded frequently, their use in everyday transactions is extremely rare. According to him, cryptocurrencies are almost never used to buy goods or services, except for illegal activities like purchasing drugs.<\/p>\n<p>Kashkari, a long-time critic of digital currencies, has previously criticized the industry, calling it largely filled with \u201cfraud, hype, and noise\u201d in 2022.<\/p>\n<p>Earlier this year, he further questioned <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin\u2019s value,<\/a><\/strong> dismissing it as a poor tool for both investment and currency, comparing its speculative nature to that of collectible toys like Beanie Babies.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/upcoming-u-s-economic-reports-could-spark-volatility-in-bitcoin-market\/\" title=\"Upcoming U.S. Economic Reports Could Spark Volatility in Bitcoin Market\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/usa-crypto-e1685095118170-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Upcoming U.S. Economic Reports Could Spark Volatility in Bitcoin Market<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>However, not everyone shares Kashkari\u2019s negative outlook. Adam Cochran, a prominent figure in the cryptocurrency space, has challenged these views, labeling them \u201cdaft and shortsighted.\u201d Cochran highlighted the recent acquisition of stablecoin startup Bridge by payment giant Stripe, a deal worth $1.1 billion\u2014the largest in the cryptocurrency sector so far.<\/p>\n<p>He emphasized that stablecoins are one of the most significant applications of blockchain technology, as they reduce costs for remittances, cut out middlemen, and help strengthen the U.S. dollar\u2019s position in global trade.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, recently expressed skepticism about the practical use of cryptocurrency. <\/p>\n","protected":false},"author":7,"featured_media":138565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-140258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fed Official Dismisses Crypto&#039;s Real-World Use, But Analysts See Growth Ahead<\/title>\n<meta name=\"description\" content=\"Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, recently expressed skepticism about the practical use of cryptocurrency.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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