Elizabeth Warren Thinks Buying Bitcoin Is Like Buying Air, Has This To Say About Dogecoin

sen. Elizabeth Warren (D-Mass.) in a recent media interview equated buying Bitcoin BTC/USD with buying air.

What happened: NBC’s Chuck Todd asked Warren if he bought Bitcoin, “did he buy a share of stocks, or do I buy a pork belly, or do I buy euros? What do I buy?”

“Or do you buy air?” Warren replied, calling Bitcoin a “ephemeral token” and saying its value was related to people’s perceptions.

“With bitcoin, there is nothing to support it,” Warren said. “It’s just faith.”

See also: How to buy Bitcoin (BTC)

Why it matters: Instead of Bitcoin, Warren said “we could talk about digital currencies,” adding that those currencies would be backed by governments.

Warren said Iran and North Korea are using cryptocurrencies to avoid financial sanctions, and that the Russians are “very sophisticated” in dealing with them.

The senator said the Bank of Russia had authorized banks to trade cryptocurrencies due to financial sanctions over the Russian invasion of Ukraine.

When asked about Dogecoin DOGE/USD and whether it revealed a “big flaw” in Bitcoin, Warren said, “I don’t think it exposes a major flaw, it says ‘guys, this is what you said it is.'”

“I made this up and I’m having a lot of fun with it, and people get engaged and they’re confident in it, so they’re bidding on its value.”

Warren called for basic security regulations for cryptocurrencies, just as they are for electrical appliances like toasters.

“They can’t burn you down,” she said.

Warren’s Past Takes: Last year, Warren said cryptocurrency had “created opportunities to defraud investors, aid criminals and exacerbate the climate crisis.

Her views have brought her criticism from Tesla Inc TSLA CEO Elon Musk and Dogecoin’s co-creator Billy Markus.

Markus called Warren “satan” this month after it was reported that she was drafting a bill to track transactions between private cryptocurrency wallets.

Price Action: At the time of writing, over 24 hours, Bitcoin was trading 0.8% lower at $46,023.23, while Dogecoin was trading 1.1% lower at $0.15, according to data from Benzinga Pro.

Read next: Why the author of ‘Rich Dad, Poor Dad’ calls Janet Yellen the ‘Queen Of Bitcoin’

Photo by Gage Skidmore on Wikimedia

This post Elizabeth Warren Thinks Buying Bitcoin Is Like Buying Air, Has This To Say About Dogecoin was original published at “https://www.benzinga.com/markets/cryptocurrency/22/04/26441009/elizabeth-warren-thinks-buying-bitcoin-is-like-buying-air-has-this-to-say-about-dogecoin”

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