The new governor of the Bank of England: if you buy bitcoin, be prepared to lose all the money
https://preview.redd.it/99vsc35ihvk41.jpg?width=2000&format=pjpg&auto=webp&s=e7c59f9c8f422d1554fab137b9244c6138eb98d0 Andrew Bailey, who assumes the position of the governor of the Bank of England, said that Bitcoin has no intrinsic value, and investing in it will result in a loss of funds. "If you want to buy Bitcoin, be prepared to lose all your money. If you want to buy it — buy it, but understand what's you've got. It has no intrinsic value," Bailey said. This is not his first statement about cryptocurrency. In 2017, the advised against investing in BTC, calling it “volatile” and “an odd commodity in terms of its pricing”.
[uncensored-r/Bitcoin] Cryptocurrency news: Bitcoin has 'FAILED' as a currency, Bank of England boss declares
The following post by VY99 is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7yr1l8 The original post's content was as follows:
Bank of England Deputy Governor Sir Jon Cunliffe warned on Friday that bank lending could dry up in the cryptocurrency economy. News.Bitcoin.com interviewed executives of five cryptocurrency The Bank of England has predicted the worst economic crash since the Great Frost of 1709. Economists are less optimistic than the central bank about the rate of recovery for the UK economy. The incoming Governor of the Bank of England has once again said that Bitcoin buyers should be prepared to lose everything they invest. Andrew Bailey, formerly the chair of the FCA, says that the digital asset lacks “intrinsic value”. Bailey has expressed very similar sentiment previously. Bitcoin crashed this week, losing almost 50% of its value in a little over a week—with some thinking it could fall even further before finding a firm floor. Bitcoin News; Bank of England Still Debating Creation of Central Bank Digital Currency, Says Bailey. July 15, 2020. 57. Share. Facebook. Twitter. ReddIt. Telegram. Pinterest. WhatsApp. Advertisment. Bank of England (BoE) Governor Andrew Bailey said Monday that the institution is still debating whether it should create a central bank digital
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