Warsh Warns: Bitcoin's Rise May Be Over As Interest Rates Climb

Bitcoin's recent surge of 26% in August may be coming to an end according to Federal Reserve Chairman Kevin Warsh.

Speaking at the Group of 20 (G20) meeting in Asheville, North Carolina, Warsh argued that 'cheap money is over' and growth is picking up, which will push interest rates up, not down.

In his address on Monday, Warsh referenced the concept of secular stagnation and a global saving glut, which was a concern for economists and policymakers just a short time ago.

However, Warsh noted that money is now pouring into artificial intelligence, and while inflation remains at 3.7%, he cannot call today's conditions 'tight'.