FED Governor Said, “Bitcoin (BTC) Is Not an Investment Instrument!”

Minneapolis FED President Kashkari commented on the US economy.

As of today, it appears that there are upward movements in the cryptocurrency industry. Bitcoin (BTC), the leading cryptocurrency that rose after the US inflation data, reached the level of 65 thousand dollars with its recent increases.

Recently, Minneapolis FED President Neel Kashkari appeared before the cameras. Talking about the latest US economic data and Bitcoin, Kaskhari said the following:

“Bitcoin has very little practical use. “BTC is not an investment instrument or currency.”

Higher borrowing costs may be required to achieve 2% inflation in the US in the near term.

We will probably need to maintain our current position for a while to understand where inflation is heading.

The housing market is more resilient than I expected, this is the area I am most focused on.

Americans are spending more than I expected.

The FED focuses on underlying demand in the economy to reduce inflation.

FED manager Kashkari had made similar statements about Bitcoin in the past. BTC is currently trading at $64,800 and seems unaffected by Kaskhari's statements.