Bitcoin News

Bank of Japan Governor Criticize Bitcoin

  • Bank of Japan governor, Haruhiko Kuroda criticizes Bitcoin.
  • Luis de Guindos conveyed a negative opinion about Bitcoin.
  • Andrew Bailey warned the crypto investors.

Bank of Japan (BOJ) governor, Haruhiko Kuroda criticized Bitcoin and joined in the roll call of central bankers taking focus at Bitcoin (BTC) among the current volatility.

Furthermore, against the value proposed for the largest crypto by market capitalization, argued by the BOJ Governor Kuroda, said, “Most of the trading is speculative and volatility is extraordinarily high. It’s barely used as a means of settlement.”

Henceforth, the smears by the BOJ governor over 50 % drawdowns experienced by the bitcoin from its $64,000 all-time high price milestone achieved back in mid-April.

Moreover, in May, Luis de Guindos, vice president of the European Central Bank, also conveyed a negative opinion about Bitcoin, also conveyed in May negative opinion about Bitcoin. In earlier European Central Bank, also argued cryptocurrencies. It has weak fundamentals and was not certified as a real investment.

In recent, the governor of Denmark’s central bank, Lars Rohde said,

“big tech and not crypto is the real competitor to gatekeepers of the legacy finance arena”.

The crypto investors are likely to lose their money warned Andrew Bailey, the Bank of England governor. The creator of the Bitcoin stock-to-flow model, long-term BTC “holding” tweeted, “owning Bitcoin for at least 200 weeks nearly four years has never resulted in a loss position owner”

Although, 50% dropdown of Bitcoin (BTC) in April but Bitcoin (BTC) still up over 22% up to date. And also returned up to fourfold gains for the bitcoin holders over the last year.  Ray Dalio has also overturned Bitcoin to be a better savings instrument in comparison to government bonds. Ray Dalio is the billionaire hedge fund manager.

Even though from criticizing Bitcoin, Kuroda also reflected the opinion of other central bankers. That concerning the potential feasibility for stable coins as long as their issuers conform to strict regulatory deals.

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Ishwarya

A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.

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