Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
A Redditor decided to give the notably crypto-skeptic, ex-chair of the Federal Reserve, Janet Yellen, some bitcoin as a gift. Her gracious and open response may surprise some.
Bah, humbug
As chair of the US Federal Reserve between 2014 and 2018, Janet Yellenâs relationship with Bitcoin was as fractious as one would expect. However, even since vacating the post back in February, she has persisted in her negative stance.
Just a few days ago she gave a five-minute speech at the Canada Fintech Forum, espousing her concerns. Or essentially, wheeling out the same old FUD, as reasons to avoid bitcoin. Not the sort of behaviour which might make one think she would enjoy receiving some as a present.
Youâve Got Mail
But thatâs exactly what a Redditor called Raz decided to do. He sent 0.0031642 bitcoin ($20), to Ms Yellen, as a promotional stunt for his Biterica bitcoin gifting service.
With Biterica, anyone can send a gift of bitcoin, quickly and simply, to any email address. Custody of the bitcoin remains with Blockchain and/or Coinbase, who hold the wallet containing the gift.
The service was allegedly set up after Razâs grandmother send a small gift for his daughter with instructions to set up a bank account for her. Realising that bank charges would consume the gift in under a year, Raz invested the money into bitcoin for his daughter instead.
Biterica (and founder Raz) believe that âthe best way to teach others about Bitcoin is by gifting them a taste.â
Taste That
Well it seems that the gift worked, both as a taste of bitcoin 00, and as a publicity stunt.
Yellenâs response to the gift was both courteous, and showed an open-mindedness towards bitcoin which has not previously been revealed.
Raz suggested that she âspend [the gift] however you pleaseâ and he âhope[d] you reconsider its merits.â
Yellen replied, âThanks so much for the gift! Maybe âto know itâ will be âto love it.ââ
Hereâs hoping that turns out to be the case. Each doubterâs mind changed is another step forward.
Is Janet Yellen warming to Bitcoin? Share your comments below!
Images courtesy of Shutterstock, Bitcoinist archives
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.