The bankofengland boss has slammed Bitcoin as an 'extremely speculative' asset and questions the robustness of stablecoins in his Mansion House speech
Bailey has a history of expressing caution regarding cryptocurrencies. Prior to his recent remarks, Bailey has on several occasions voiced concerns about the speculative nature of digital currencies, stressing that investors should be prepared to lose all their money if they choose to invest in them.
In January 2021, Bailey stated that digital currencies lack intrinsic value. He argued that while people may choose them as a means of payment, that doesn't grant them any inherent value. His position on cryptocurrencies has been consistent, warning potential investors of the risks associated with these highly volatile assets.that UK food prices are likely to fall this year, offering some relief amidst the turbulence of ongoing economic uncertainty.
He also emphasized the importance of avoiding ambiguity regarding customers' money during the execution of bank resolution strategies.
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