Former US Secretary of the Treasury under President Bill Clinton and past President Emeritus of Harvard University Lawrence Summers has indicated that he believes bitcoin to be a “very, very important development”.
As treasury secretary, Summers is said to have played an integral role in the US handling of several world financial crises, and his prior positions include serving as chief economist at World Bank from 1991 to 1993.
The remarks came after Summers’ speech at the National Association for Business Economics policy conference on 24 February, in which he addressed a wide range of financing topics from the US Federal Reserve’s quantitative easing strategy to virtual currencies such as bitcoin.
February 25, 2014 at 09:42PM
