Bitcoin skeptic Janet Yellen to head the U.S. Treasury

Former head of the U.S. Federal Reserve (Fed) Janet Yellen has become the first woman to serve as Treasury secretary. The Senate confirmed by the Senate.

Yellen is known for her criticism of Bitcoin. While heading the Fed from 2014 to 2018, she described the first cryptocurrency as a speculative asset.

After being nominated to the post of Treasury secretary in November 2020, Yellen changed her rhetoric. As head of the department she promised to consider ways to promote the legitimate use of digital assets and to keep a close eye on the industry.

In her view, regulators can harness the benefits of cryptocurrencies to improve the efficiency of the financial system.

In July 2017, Yellen’s address to the House Financial Services Committee was interrupted by an unknown man who held a placard urging people to buy Bitcoin.

In 2018, Raz Suprovichi, founder of the digital gift service Biterica, sent the former Fed head 0.0031642 BTC (~$20 at the time of the transaction).

In November 2020, Morgan Creek Digital co-founder Anthony Pompliano called Yellen’s appointment to the post of U.S. Treasury secretary good news for Bitcoin.

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