Money bitcoin did not exist, the Biz

16:20  25 march  2021
16:20  25 march  2021 Source:   de.reuters.com

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(Bloomberg) - Bitcoin has failed in the money test: Due to the volatile value, the Krypto asset can not be considered as currency. This is the verdict of the Expert of the Bank for International Settlements, which develops for the central banks digital money models.

"Bitcoin can be an investment instrument, and it is not my job to judge or evaluate this," Benoit Coeur, who heads the innovation Hub at BIS, in an interview with Bloomberg Television. "But it did not pass the test as a currency, the test as a means of payment did not exist - just because its value fluctuates so much."

The BIS is considered "central bank of central banks", its owners are Federal Reserve, European Central Bank, Bundesbank & Co. With these, the Basel-based institution is working on models to issue digital versions of traditional currencies. It is important for central banks to provide citizens of financial security and find ways to use technological innovations. Official digital currencies could circulate the functioning of money.

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"The central banks focus on an instrument that offers liquidity and security and that can be used in the global payment system," said coeure in the interview. "That's why we want to deal with digital central bank currencies. Krypto has its own place, but it's different - it's not a payment instrument. "

More about:

Krypto market value exceeds $ 1 trillion, rally at Bitcoin, Ether

Bitcoin threatens to record-rally More official control

to Bitcoin Rally Provides Wall Street Future of Gold in question

heading of the article in original:

to it Coeure Says Bitcoin Has Failed Test On Being a Currency

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usr: 0
This is interesting!