During a recent appearance on “Meet the Press Reports,” US Senator Elizabeth Warren (D-MA) compared buying Bitcoin to buying air.
The lawmaker claims that people typically buy or sell cryptocurrency because they believe the price will rise or fall, rejecting the idea that it has any fundamental value.
The Massachusetts senator, who is considered one of the leaders of the progressive wing in the Democratic Party, also thinks the time is right for the US to issue a central bank digital currency.
“So a lot of banks got it wrong, if you think, We can improve that in the digital world,’ the answer is ‘Sure you can’. But in that case, let’s make a central bank digital currency. I think it’s time we went in that direction.”
As for whether Bitcoin is regulated as a commodity, Warren replied:
I THOUGHT IT WILL BE MANAGED FINALLY.
The senator drew ominous parallels between the cryptocurrency market and the subprime mortgage crisis in the US, which triggered the global recession in the late 2000s.
The former presidential candidate is one of the biggest crypto detractors in the US Congress. Her anti-crypto comments frequently upset industry leaders and the broader community.
Elizabeth Warren has repeatedly called attention to the adverse environmental impact of Bitcoin mining, calling the excessive energy consumption “a real problem.” She also took aim at the DeFi sector, describing it as one of the “worst” parts of the industry during a Senate Committee meeting on banking in December.