Bitcoin Was ‘Terrible Inflation Hedge,’ Fed’s Neel Kashkari Says: ‘Has Anyone Bought Anything With It?’
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, recently questioned Bitcoin’s (CRYPTO: BTC) utility and viability. The digital asset, he says, lacks real-world use. “Has anybody… ever bought something using Bitcoin as a currency? A sandwich? A computer? A book? Anything?” Kashkari asked. Kashkari then addressed how Bitcoin enthusiasts cite the asset’s effectiveness as an inflation hedge, a claim that has been put to the test in recent times. “When we had this big inflation spike, I thought, ‘We’re going to make these Bitcoin guys feel like they were right.’ But then it t…