The Bank of Canada today issued a warning on cryptocurrencies, describing such assets as “high-risk.” And if you were among the group of investors who purchased Bitcoin at its peak of $63,000, that assessment likely comes as no surprise.
No time to read our Financial System Review? That’s OK. Here’s our latest analysis of financial stability in Canada – in brief. pic.twitter.com/F8exZpNLWc
— Bank of Canada (@bankofcanada) May 20, 2021
In its annual review of vulnerabilities and risks in the financial sector, the central bank said that despite their growing popularity, the intrinsic value of assets like Bitcoin and Ethereum is “hard to establish.”
The implication is that these assets are only good for speculation, and the events of the last week only fuel such criticisms. Bitcoin lost more than half of its value from its peak when it dropped to $30,000 yesterday in a crash that saw massive losses incurred across the crypto market. But Crypto believers say that such dra
Źródło: https://decrypt.co/71591/bank-of-canada-warning-bitcoin-ethereum
