The president of the Federal Reserve Bank of Boston says he expects a winning streak for the digital currency Bitcoin to eventually come to an end. “Personally, I’ve been surprised that Bitcoin has continued to flourish,” Eric Rosengren, the head of the regional central bank, said in an interview with The New York Times on Friday. The digital currency is trading at more than $50,000 per coin and on Friday surged to a market value of more than $1 trillion. That increase has been helped along as big companies like Tesla and finance firms like Bank of New York Mellon increasingly embrace Bitcoin. But Mr. Rosengren said he could not see a long-lived use case for Bitcoin in a world where central banks were likely to offer their own alternatives eventually.

Source: New York Times February 19, 2021 21:56 UTC