Today news
About the same in other media
Bitcoin too volatile to be adopted as legal tender, says BoE chief
Reading now: 149
Bank of England governor Andrew Bailey has expressed concerns over El Salvador’s adoption of Bitcoin (BTC) as legal tender after President Nayib Bukele announced the launch of Bitcoin City.
Bailey argued that El Salvador’s decision to adopt Bitcoin as a currency was alarming because consumers are likely to suffer from the cryptocurrency’s extreme volatility.
Trading around $43,000 on the first day of El Salvador’s Bitcoin adoption as legal tender, Bitcoin surged to a new historical high above $68,000 on Nov. 9. BTC price has significantly tumbled since then, with Bitcoin trading at $54,626 at the time of writing.
“It concerns me that a country would choose it as its national currency,” Bailey said at the Cambridge University student union
Read more on cointelegraph.comAbout this in other media
Paraguayan Senate to Debate Taking Bitcoin Mining ‘Out of the Grey Area’ cryptonews.com /3 years ago
Omnicron COVID variant: Curbs on southern Africa 'a kind of travel apartheid', says UN chief euronews.com /3 years ago
Mainstream Analysts Pour Scorn on El Salvador’s Financial Plans and Bitcoin Intentions cryptonews.com /3 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
