Federal Reserve Branch Adds Cryptocurrency Price Indexes [Yes, Really]

The St. Louis branch of the US Federal Reserve has added four cryptocurrency price trackers to its extensive research database.

St. Louis Federal Reserve Adds Crypto Price Charts

Announced on Tuesday, the Federal Reserve Economic Data (FRED), a database curated by the St. Louis Fed, will now include pricing data for bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), and litecoin (LTC), going back to as early as 2014 in the case of bitcoin.

federal reserve
Source: Federal Reserve Bank of St. Louis

Data points are obtained from San Francisco-based cryptocurrency exchange and brokerage platform Coinbase and updated daily at 5 pm PST.

Presumably, the St. Louis Fed could add pricing data for ethereum classic (ETC) once Coinbase formally lists it on its platform, a move that it has said will occur in the near future.

The Fed’s Complicated Relationship with Cryptocurrency

As CCN reported, the St. Louis branch of the Federal Reserve has been surprisingly open to cryptocurrency, both as a technology and an asset class.

St. Louis Fed. Governor James Bullard recently spoke at cryptocurrency conference Consensus, which was held last month in New York. While not exactly bullish, his comments envisioned a future in which cryptocurrencies play an important role. He expressed concern that cryptocurrencies could cause the monetary landscape to revert back to a “non-uniform currency system,” such as existed in past centuries.

“Cryptocurrencies may unwittingly be pushing in the wrong direction in trying to solve an important social problem, which is how best to facilitate market-based exchange,” he said.

Moreover, the St. Louis Fed published an article earlier this year in which it noted that bitcoin is not really all that different from “regular currency” such as the US dollar…

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