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Governor of Bank of England Said Bitcoin has Failed

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The governor of the Bank of England, Mark Carney, in a statement about the Bitcoinsaid that “Bitcoin so far has mostly failed”.

The governor’s words refer to bitcoin intended as currency, since it is not yet very useful at the moment. A point on which we could argue, but for which Carney is not much wrong.

Nonetheless, the governor of the Bank of England himself has instead praised the blockchain technology, as well as many before him have already done.

Carney has in fact defined the blockchain in the system of financial transactions very useful, as reported by the Telegraph, but that the cryptocurrency market follows a separate story.

Carney has ratings agencies and other representatives of economic institutions echoing Carney. From Goldman Sachs, in fact, come statements about super pessimistic scenarios on cryptocurrencies, of which, according to analyst Steve Strongin, only some will remain “alive”.

From Switzerland, Nobel Prize analyst Robert Shiller called Bitcoin an experiment, which will not last for many years.

From the Central Bank of Sweden, again, DG Cecilia Skingsley, says that Bitcoin is not even a currency, since it does not have a trading value in real life and there is no stable exchange rate. For the same Skinglsey, Bitcoin remains interesting for investments but that the strong fluctuations have required a strong regulation of the sector.

The latest news coming from South Korea say that the government would now be ready to support trading activities in the sector and drive away all those worries and deep fears that have plunged Bitcoin and other digital currencies over the last few weeks.

To prove these words, the new increase in the price of Bitcoin, rose again above 11 thousand dollars and with an increase of over + 34% in the last 7 days.

If you want to be up to date with the latest news about cryptocurrencies coming from all over the world, click here.

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