Francois Villeroy de Galhau has always been a Bitcoin critic. Earlier in Beijing, he made the following statement:
“We need to be clear: Bitcoin is in no way a currency or even a cryptocurrency. It is a speculative asset. Its value and extreme volatility have no economic basis, and they are nobody’s responsibility. The Bank of France reminds those investing in bitcoin that they do so entirely at their own risk.”
His position is supported by Mario DRAGHI, the President of the European Central Bank (ECB). He also recently stated that cryptocurrency is not a currency, but rather a risky asset for which no one bears responsibility.
Image courtesy of 2Bitcoins