Bank of France Governor is Against Bitcoin: Warns the Risks

Nishanth Shetty

Nishanth Shetty

December 4, 2017 10:13 am

Bank of France Governor is Against Bitcoin: Warns the Risks |
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Bank of France Governor Francois Villeroy de Galhau has claimed a warning on the high risks of investing in Bitcoin. He described that Bitcoin is “risky” asset and is neither a currency nor a digital currency.

Speaking at an event in China, Villeroy said that Bitcoin’s value and extreme volatility has no economic basis and those who invest in it, they will have to bear all the risk by their own.

 

He Described:

“Its value and extreme volatility have no economic basis, and they are nobody’s responsibility. The central bank warned that those buying Bitcoin “do so entirely at their own risk.”

Other warnings over Bitcoin

De Gahau’s pronouncement reflected that European Central Bank Vice President Vitor Constancio, who said the investors who are purchasing Bitcoin at its current price, they are actually putting their money at a very high risk.

He said:

“Investors are taking that risk of buying at such high prices.”

 

Many of the well-known personalities in the world of finance has also claimed their warnings due to the constant fall and rise of the Bitcoin’s price. Among them is billionaire investor Carl Icahn, who said that the Bitcoin is a bubble and he does not even know why it is popular.

He Described:

“I got to tell you honestly, I don’t understand it … I just don’t get it. I just stay out of something if I don’t understand it.”

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