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BIT WHAT?

Paul Volcker is “too old” for bitcoin

paul volcker confused bitcoin
AP Photo/Craig Ruttle
Stumped.
This article is more than 2 years old.

For all you bitcoin nerds predicting the surge of the online currency: Paul Volcker doesn’t care.

In fact, it would seem that the eminent former chairman of the Federal Reserve—known for bringing US inflation under control in the early 1980s—doesn’t even know what bitcoin is.

We asked him today at a conference put on by NYU’s Stern School of Business what his thoughts were about the electronic currency—a currency which (some believe) challenges the modern system of central banking.

Volcker replied, “Bitcoin? What’s that?”

(Paul, if you’re reading this, Cullen Roche of Pragmatic Capitalism has a good explanation.)

He added, seeing my incredulity, “I’m too old to know anything about that.”

Bitcoin traders, take note. A prominent figure of central banking really doesn’t care about what you’re trading. At least, not yet.

(If you change your mind, Mr Chairman, do shoot me an email.)

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