Bitcoin as a Payment System: Bank of America CTO Speaks Out

Bitcoin

Debates over the suitability of Bitcoin as a payment system continue. Last week, CFTC chairman J. Christoper Giancarlo stated he does not believe Bitcoin to be an “ideal” payment system. The chair has this mentality despite also saying Bitcoin has similarities to gold.

This week, the Bank of America CTO joined the conversation.

Bitcoin as a Payment System

On Thursday, Catherine Bessant, Bank of America CTO, stated that Bitcoin as a payment system is very “troubling.” Not just Bitcoin, however, Bessant referred to the use of other cryptocurrencies as payment systems as well. Many …

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