Bitcoin: what have experts said about the cryptocurrency?

itcoin’s gyrations have attracted a lot of attention over the past year. Here are some of the most memorable comments from senior figures in world finance.

Yves Mersch

Yves Mersch, a member of the European Central Bank’s executive board, called for a global clampdown on virtual currencies because of their threat to financial stability on 8 February. Bitcoin transactions can easily take several hours to process, he noted in a speech in London.

At these speeds, if you bought a bunch of tulips with bitcoin they may well have wilted by the time the transaction was confirmed.”

Agustín Carstens

The new head of the Bank for International Settlements has described bitcoin as “a bubble, a Ponzi scheme and an environmental disaster”.

“If authorities do not act pre-emptively, cryptocurrencies could become more interconnected with the main financial system and become a threat to financial stability,” he said in a speech on 6 February.

 

For more read the full of article at The Guardian

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