April 16, 2014 / 1:20 AM / 4 years ago

U.S. Fed's Kocherlakota says interested in bitcoin

FARGO, N.D., April 15 (Reuters) - 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)

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