Sunday, April 21, 2024

“How the stamps work”: “It could collapse”: the head of the central bank of Sweden criticizes Bitcoin | News

Date:

?? Sweden’s central bank chief predicts Bitcoin’s crash
?? Bitcoin trading “is comparable to postage stamp trading”
?? Very different attitudes towards Bitcoin & Co.

Riksbank Governor Predicts Bitcoin Crash

At a banking conference in Stockholm, the head of the Swedish central bank, Stefan Ingves, recently criticized Bitcoin. He warned that the value of the largest cryptocurrency could drastically collapse and questioned the durability of the coins without government support: “Private currencies tend to collapse sooner or later.” He also compared the buying and selling of bitcoins to trading in postage stamps: “And sure, you can get rich trading Bitcoin, but it is comparable to trading in postage stamps,” Bloomberg quotes the governor of the Riksbank.

To the contrary opinions about Bitcoin & Co.

Attitudes towards digital currencies and Bitcoin in particular are generally very contrary. While numerous cryptocurrency fans are convinced that Bitcoin & Co. is the future, these coins are also increasingly being scrutinized by supervisory authorities around the world. There is definitely a lot going on in the world of cryptocurrencies.

For example, El Salvador recently became the first country in the world to have the Bitcoin officially as legal currency inserted. In China, on the other hand, there is growing opposition to Bitcoin & Co .: Cryptocurrencies “are not legal offerings and have no real value backing,” Futurism magazine quoted Yin Youping, deputy director of the financial consumer office as saying. . protection of the People’s Bank of China.

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Meanwhile, more and more governments are discussing the possibility of introducing their own centralized and state-backed digital currencies. The Bank of England’s chief financial technology officer said at a conference last month, “Bitcoin, given its low performance and energy efficiency, is by no means a relevant comparison of the type of technology that we could use in a bank’s digital currency. central, “CoinDesk said. The Swedish Riksbank itself is currently investigating the possibility of issuing its own digital alternative to cash, the so-called e-krona. However, so far no final decision has been made on this.

Editorial team of Finanzen.net

Image Sources: Dim Dimich / Shutterstock.com, Lightboxx / Shutterstock.com

Ebenezer Robbins
Ebenezer Robbins
Introvert. Beer guru. Communicator. Travel fanatic. Web advocate. Certified alcohol geek. Tv buff. Subtly charming internet aficionado.

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