Alan Greenspan slams bitcoin, says ‘humans buy all sorts of things that aren’t worth anything’

Where was this guy during the Clinton and Bush years? Oh, yeah. He sold out to the Republicans and Democrats.

Former Federal Reserve Chair Alan Greenspan has been providing some exemplary commentary over the last year or two. Despite his attempt to regain some credibility, he is placing a target on his back, and it will certainly be hunted down by the bitcoin community.

Speaking in an interview with CNBC, Greenspan provided his thoughts on the peer-to-peer decentralized digital currency bitcoin. He averred that he hasn’t been persuaded by its flavor-of-the-month status, and even compared it to the money issued by the Continental Congress in 1775 to finance the war.

Even with bitcoin surging $1,000 to climb above $12,000 to a new all-time high, Greenspan alluded to its genuine lack of value and concerns about a bubble.

To Greenspan, though, worthless items can still buy and produce goods and services (you know, like Federal Reserve Notes).

“A significant share of it was creating real goods and services despite the fact that it was ultimately worthless,” he said.

“Humans buy all sorts of things that aren’t worth anything. People gamble in casinos when the odds are against them. It has never stopped anybody.”

You can add Greenspan’s name to the growing chorus of bitcoin naysayers.

Bitcoin looks like the history of fiat money going back to the Revolutionary War: Alan Greenspan from CNBC.

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