"Cryptcurrency has no intrinsic value." Uh, neither does paper...
Hilarious that this guy who's supposed to be an economist - at Britain's Central Bank no less - wants to argue not to invest in Bitcoin et al because "they have no intrinsic value."
Uh, neither does the British Pound Sterling, the US Dollar, or any other currency in the world right now. They're all ephemeral. Talk about your red herring...
Uh, neither does the British Pound Sterling, the US Dollar, or any other currency in the world right now. They're all ephemeral. Talk about your red herring...
I'll be interested to see if anyone actually buys a cryptocurrency issued by a central bank out of choice. (You can bet that such a bank will seek to make such a currency legal tender in their respective nation!)
Lower down in the article:
Despite Bailey's objections, the Bank of England said in April that it would "join forces with the U.K. Treasury to consider creating its own central bank digital currency," Fortune reported.