It was previously seen that leading institutions and even central banks made statements against Bitcoin, the leading cryptocurrency. Mark Carney, the former head of the Bank of England (BoE), was one of the rare central bank governors to make a statement in favor of BTC. Now, the new president of the BoE has made an anti-BTC statement in keeping with tradition.
Andrew Bailey, the new president of the Bank of England, has added another bit of criticism to Bitcoin. He had previously emphasized that it was a fraud in December 2017 when BTC was the most popular. Stating that BTC has no intrinsic value, the new president once again underlined that this is a very, very risky investment.
Bailey: Bitcoin Is A Very Risky Investment
Bailey, who started his speech with Bitcoin at an event he attended today, said:
“I will begin my conversation with crypto assets such as Bitcoin that have been released in the last 10 years. They have no connection with money. Although Bitcoin may have an external value, they are seen as very risky investments. ”
Bailey made a laudatory statement about stablecoins while eating BTC and other cryptocurrencies. Stating that stablecoins, whose value is indexed to certain assets and rely on price fluctuations, will be used for some beneficial business, Bailey emphasized that the problems in payments can be reduced and speed can be increased.
Rumors that the Bank of England will also release its own digital currency were on the agenda. Perhaps this is exactly why Bailey criticized BTC and praised stablecoins.