Bank Of France Governor Says Bitcoin is not a Cryptocurrency!

Nishanth Shetty

Nishanth Shetty

December 2, 2017 8:36 am

Bank Of France Governor Says Bitcoin is not a Cryptocurrency! | Coindelite News
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Bitcoin News

 

Bank of France governor Francois Villeroy de Galhau said that the Bitcoin is not a currency neither it is a cryptocurrency.

At one of the Beijing conference, Villeroy stressed the need for “clarity” on the Bitcoin’s status. While introducing an unusual angle which has not yet materialized as a part of the mainstream account.

Governor Said in terms of Bank of France in various publications:

“We need to be clear that Bitcoin is in no way a currency or even a cryptocurrency, It is a speculative asset. Its value and extreme volatility have no economic basis, and they are nobody’s responsibility.”

 

While repeating the various warnings which are common to the central banks throughout the world over the past few years, Villeroy included that, the Bank of France “reminds those investing in Bitcoin tose they do so entirely at their own risk.”

The concept that Bitcoin is not a cryptocurrency stands out among more unexpected utterances from famous economic sources this week.

While reporting to Bloomberg, the networks’ CEO and Founder Michael R.Bloomberg were also confused whether Bitcoin and Blockchain, coming out with a newly-coined term which isBitchain.’

 

Goldman Sachs CEO Lloyd Blankfein was also present in the interview, he was on hand to correct him before Bloomberg continued that his network basically was, a blockchain.

Blankfein said:

“In fact, the Bloomberg system is a Blockchain; it’s just that instead of having the users control it, we control it.”

“But it has all the attributes of that.”

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