Tags: gary cohn | trump | adviser | buy | bitcoin

Trump's Chief Economic Adviser Gary Cohn: Why I Won't Buy Bitcoin

Image: Trump's Chief Economic Adviser Gary Cohn: Why I Won't Buy Bitcoin
(Alexander Sikov/DreamsTime)

Wednesday, 20 December 2017 10:55 AM

Even with bitcoin booming, White House chief economic adviser Gary Cohn said he’s waiting for a more mainstream digital-currency alternative before joining the crypto craze.

When asked in an interview whether he owns bitcoins or would buy them, Cohn gave a pat response of, “no.”

Financial regulators are grappling with how to oversee trading of digital currencies such as bitcoin, as futures contracts were recently introduced on the first major U.S. exchanges.

While the currency is gaining traction with conventional investors, its unpredictable fluctuations still make it too risky a proposition for many. Bitcoin was hovering around $17,000 early Wednesday.

“I believe we will have a digital currency in this country that will be widely accepted,” Cohn, a former Goldman Sachs president, said in an interview with media company Axios on Wednesday in Washington.

That currency will have “less transaction costs, and people will have a much broader, deeper understanding of what it is and how it works.”

© Copyright 2018 Bloomberg News. All rights reserved.

   
1Like our page
2Share
StreetTalk
Even with bitcoin booming, White House chief economic adviser Gary Cohn said he's waiting for a more mainstream digital-currency alternative before joining the crypto craze.
gary cohn, trump, adviser, buy, bitcoin
158
2017-55-20
Wednesday, 20 December 2017 10:55 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved