Today news
About the same in other media
22.12 - 18:07
Bitcoin could become ‘worthless’, Bank of England warns
Reading now: 690
theguardian.comThe Bank of England has said that bitcoin could be “worthless” and people investing in the digital currency should be prepared to lose everything.
In a warning over the potential risks for investors, the 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 (£37,786) a piece.
The cryptocurrency peaked above $67,000 in early November, but suffered a sell-off after news first broke of the Omicron variant of coronavirus, before stabilising around its current level in the past week.
The Bank’s deputy governor, Sir Jon Cunliffe, said it had to be ready for risks linked to the rise of the crypto asset following rapid growth in its popularity.
Read more on theguardian.comAbout this in other media
Bitcoin could ‘violate the framework’ through which digital currency is viewed, if… ambcrypto.com /2 years ago
BNP Paribas agrees to $16.3bn sale of Bank of the West to BMO Financial Group fnlondon.com /2 years ago
5 Bitcoin Books for Kids You Could Gift This Christmas cryptonews.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
