Bitcoin as well as other cryptocurrencies shouldn’t be regarded as a sort of money mostly because of their extremely volatile nature. That’s what Cecilia Skingsley, the deputy governor of Sweden’s major financial institution uncovered on Thursday.
She told that cryptocurrencies aren’t good at serving as any means of exchange or store of value. Nevertheless, she confessed that digital currencies deserve the status of true assets.
Pointing to the historical development of finances, including dated methods such as gold and copper, she associated good money with something boasting steady value and sufficient dement within a particular currency union or country.
Cryptocurrencies were heavily criticized by both regulators and banks due to worries of insane price fluctuations as well as illegal activities, including money laundering.
By the way, Sweden is even considering the development of the national cryptocurrency, reportedly dubbed the ekrona. It’s a response to a drastic sink in cash use in this European country.