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28 September 2021

Central Bankers Say Bitcoin Is High Risk Investment, Poor Store of Value, Could Collapse – Regulation Bitcoin News

Central Bankers Say Bitcoin Is High Risk Investment, Poor Store of Value, Could Collapse – Regulation Bitcoin News


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Two central bank governors have shared their opinions about bitcoin after the cryptocurrency became legal tender in El Salvador.

The governor of the Bank of Mexico sees bitcoin as a high-risk investment and a poor store of value while the governor of Sweden’s central bank, the Riksbank, believes bitcoin could collapse.

The governors of the Bank of Mexico (Banxico) and Sweden’s central bank, the Riksbank, have shared their views on bitcoin after the cryptocurrency became legal tender in El Salvador.

Bank of Mexico Governor Alejandro Diaz de Leon said Thursday that bitcoin is more like a means of barter than fiat money, Reuters reported, adding that he called the cryptocurrency “a high-risk investment and a poor store of value.” The Banxico governor is an economist; he was appointed by Mexico’s president to serve as governor of the central bank until Dec.

The Bank of Mexico chief argued that in order for a cryptocurrency to be considered money it must be a reliable payment method.

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