FARGO, N.D., April 15 A top U.S. Federal Reserve official said on Tuesday he is interested in the fast-emerging bitcoin, although he scoffed at the idea that the virtual currency could replace the dollar.
Minneapolis Federal Reserve Bank President Narayana Kocherlakota, speaking at a town hall at North Dakota State University, said he is interested in bitcoin as a technology, not as a currency.
He speculated that bitcoin could make payments among individuals faster. "That's where I think the interest of it is, myself, as opposed to a new currency that's going to drive the U.S. dollar out of circulation." (Reporting by Alicia Underlee Nelson; Writing by Ann Saphir; Editing by Lisa Shumaker)