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SEC Treasury Janet Yellen: “Bitcoin Is Extremely Inefficient” – Check Out Some Reactions

It’s been just revealed on Twitter that the SEC treasury Janet Yellen said that Bitcoin is not efficient.

The popular analyst Kiyosaki dropped a reaction on his social media account, and you can check it out below.

Someone said: “Bitcoin has no backing & no intrinsic value. It only has peoples FAITH. It’s been going up because of the wealthy in autocratic regimes+money launderers+FOMO investors, but once the faith is shaken, it will swing wildly or tank. when hacks happen & $BTCs disappear, faith crumbles.'”

A commenter posted this message: “I’m all favour of crypto adoption, but I don’t understand enough economy to understand what would happen to society during the pandemic if they had printed money for basic needs. What option do they have? I understand that maybe the money wasn’t well-distributed, aka big companies.”

We suggest that you check out the complete thread in order to see more reactions.

Bitcoin and Ethereum see strong corrections

Some crypto enthusiasts are freaking out at the sight of Bitcoin and Ethereum today. Most coins in the crypto market see a significant drop in price.

But while there are a lot of people who are freaking out, some say that this is just a healthy correction.

Michaël van de Poppe highlighted the fact that Bitcoin has historically witnessed red candles in February and March, with significant pullbacks unfolding this time of year in both 2018 and 2020.

Check out our previous article in order to learn what more he had to say and what he predicted about the prices of the coins.

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