A cryptocurrency activist, yet to be identified, held up a “Buy Bitcoin” sign during Federal Reserve Chair Janet Yellen’s testimony on Wednesday before the House Financial Services Committee. Yellen was defending why she believes the Federal Reserve System should not be audited.
The Bitcoin protester was visible on television and was removed from the hearing room due to his peaceful stunt. Holding up any sign goes against the House committees rules of decorum.
According to the website Coindesk, Bitcoin is “a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.”
Bitcoin is becoming a wildly popular technology because the cryptocurrency makes buying and selling online anonymous. It has seen a rapid growth in just a few years. It’s original cost was mere pennies in 2012. Today, a single Bitcoin costs $2,363.
Many investors are switching from normal market trading and are invest in Bitcoin because they are afraid of the future of central banks like the Federal Reserve. The House and the Senate currently have bills to audit the Federal Reserve.
Congressman Thomas Massie is a strong supporter of auditing the Federal Reserve.
“The American public deserves more insight into the practices of the Federal Reserve,” said Congressman Massie. “Behind closed doors, the Fed crafts monetary policy that will continue to devalue our currency, slow economic growth, and make life harder for the poor and middle class…It is time to force the Federal Reserve to operate by the same standards of transparency and accountability to the taxpayers that we should demand of all government agencies.”
The young Bitcoin activist, who has yet to be identified, is asking that those who enjoyed his stunt send him Bitcoin.