Bitcoin lacks backing and cannot play a larger role in international finance

[Bernanke: Bitcoin lacks sovereign government endorsement and cannot play a larger role in the international financial system] Caixin reporter: Do you think digital currency or virtual currency has a future? Bernanke: From a technical perspective, yes. These technologies provide a lot of room for improving the payment system and how humans conduct daily transactions in the future. However, I don’t think that currencies that lack sovereign government endorsement, such as Bitcoin, will eventually play a larger role in the international financial system. People will continue to trade in dollars, euros, and renminbi.