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The Bank of England has recently said that bitcoin digital currency can become “worthless” and that people who invest in cryptocurrencies should be “always ready to lose everything”, writes the British daily The Guardian.
The central bank cast doubt on whether there was indeed a stable valuation of the most popular cryptocurrency, which has currently reached the value of $ 50,000 per piece.
In November its price had reached $ 67,000 but later suffered some fluctuations until it stabilized at the current level from last week.
Zv. The governor of the bank, Sir Jon Cunliffe, said that the entity should be prepared for the market entry of crypto-assets, after increasing their popularity.
“Their value varies considerably and [bitcoin] “It could theoretically drop to zero,” he told the BBC.
The cryptocurrency market capitalization has grown to $ 2.6 trillion by 2020, returning 1% of global financial assets.
In Britain, according to him, there are about 2 million people who hold bitcoin values and other assets such as Binance ethereum.
The bank says it and other financial institutions have prudent access to cryptocurrencies and follow any developments in their market.
“Regulatory frameworks are needed, both internally and globally, to influence these growing markets when needed, in order to maintain trust and integrity in the financial system.”
In a comment today a member of the bank’s staff wrote that bitcoin has not yet met the criteria of stability of a currency, and risks constant volatility.
Thomas Belsham, who works in the bank’s stock and media sector, said: “The problem is that unlike other forms of money, Bitcoin is not used to value anything other than itself. As his own enthusiasts say, ‘one Bitcoin = one Bitcoin’ “.
About 19 million bitcoins are currently in circulation, as new values are added when their “diggers” make estimates in the ‘blockchain’ book that commands the cryptocurrency.
The maximum number of Bitcoin is expected to be reached around 2140, when it will be difficult for the system to afford, adds Belsham.
“Simple theory tells us that with reverse induction comes a point where you have to push the money out, and when that comes investors have to be prepared to lose everything.”
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