Bitcoin could be worthless

Stefan Mileschin · 16th December 2021, 10:05

Bank of England warns

The Bank of England has said that bitcoin could be "worthless" and people investing in the digital currency should be prepared to lose everything.

Blighty’s central bank questioned whether there was any inherent worth in the most prominent digital currency, which has soared in value this year to close to $50,000 a piece.

The deputy governor, Sir Jon Cunliffe, said the Bank had to be ready for risks linked to the rise of the crypto asset following rapid growth in its popularity. "Their price can vary quite considerably and bitcoins could theoretically or practically drop to zero", he told the Beeb (BBC).

The Bank's financial policy committee, set up in the wake of the 2008 financial crisis to monitor risks, said on Monday there was little direct threat to the stability of the UK financial system from crypto assets.

https://fudzilla.com/news/54045-bitc...d-be-worthless

16th December 2021, 10:05	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,738	Bitcoin could be worthless Bank of England warns The Bank of England has said that bitcoin could be "worthless" and people investing in the digital currency should be prepared to lose everything. Blighty’s central bank questioned whether there was any inherent worth in the most prominent digital currency, which has soared in value this year to close to $50,000 a piece. The deputy governor, Sir Jon Cunliffe, said the Bank had to be ready for risks linked to the rise of the crypto asset following rapid growth in its popularity. "Their price can vary quite considerably and bitcoins could theoretically or practically drop to zero", he told the Beeb (BBC). The Bank's financial policy committee, set up in the wake of the 2008 financial crisis to monitor risks, said on Monday there was little direct threat to the stability of the UK financial system from crypto assets. https://fudzilla.com/news/54045-bitc...d-be-worthless

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