A 6/21/17 McClatchy DC article reports that Governor Haruhiko Kuroda, head of the Bank of Japan, has criticized bitcoin, calling it a speculation. He has also said that it has no intrinsic value.
Bitcoin, the most popular digital currency after Bitcoin Cash, is similar to a speculative asset, according to the head of the Bank of Japan (BOJ). This was the opinion of Masaaki Shirakawa, who also said that bitcoin was in danger of losing its status as a safe asset. He explained that bitcoin was “one of the products of speculation,” adding that “we should see bitcoin not as a currency but as a product.”
The Bank of Japan (BOJ) governor, Haruhiko Kuroda, has caused a stir in the Bitcoin community by hitting out at the digital currency . At a press conference in July, Kuroda said virtual currencies should not be viewed as a “threat” or “opportunity” and that the BOJ was “watching the situation”.Bank of Japan governor Haruhiko Kuroda has joined a number of central bankers in focusing on bitcoin (BTC) amid the current volatility. According to a Bloomberg report Friday, Kuroda objected to the value proposition of the largest cryptocurrency by market capitalization, saying: Most trading is speculative and volatility is unusually high. It is almost never used as a means of settlement. The BOJ chief’s criticism came as bitcoin fell more than 50 percent from its high of $64,000 in mid-April. In fact, several central bankers have used the current surge in the price of bitcoin to question BTC and cryptocurrencies in general. In early May, Luis de Guindos, vice president of the European Central Bank, also spoke negatively about bitcoin. As Cointelegraph reported at the time, the ECB chief stated that cryptocurrencies have weak fundamentals and cannot be considered a real investment. Recently, Lars Rohde, governor of Denmark’s central bank, dismissed the possibility that cryptocurrencies pose a threat to the central bank’s autonomy. According to Rohde, it is big tech, not cryptocurrencies, that is the real competitor to the gatekeepers in the traditional financial arena. No one who bought #bitcoin and held it for more than 4 years (200 weeks) has ever lost money, NEVER. https://t.co/oDeJbCC9hW pic.twitter.com/BCK37uTsbF – PlanB (@100trillionUSD) May 28, 2021 Also in May, Andrew Bailey, governor of the Bank of England, warned that investors in cryptocurrencies could lose all their money. But as PlanB, creator of the stock-to-flow model for bitcoin, pointed out on Twitter, bitcoin’s long-term hike – owning bitcoin for at least 200 weeks (four years) – has never resulted in a loss for owners. Despite Bitcoin’s 50% drop since mid-April, BTC is still up about 22% year-over-year, allowing holders to quadruple their returns over the past year. Hedge fund manager and billionaire Ray Dalio has even called bitcoin a better savings vehicle than government bonds. Kuroda not only took issue with bitcoin, but also reiterated the position of other central bankers on the potential viability of Stabelcoins, provided their issuers follow strict regulatory protocols.Bank of Japan (BOJ) governor Haruhiko Kuroda was asked at a press conference about his comments that Bitcoin (BTC) would never function as a form of payment, especially when other central banks have allowed customers to use their currencies to purchase goods and services. Kuroda stated that Bitcoin does not have the characteristics of a currency, and does not possess the features to function as a payment method, adding that it was not a currency at all. When asked if Bitcoin would be a currency, Kuroda remarked that it would if it were a proxy for the US dollar, or if it had a claim to being a currency of its own, or if it could easily be used to settle payments.. Read more about markets update and let us know what you think.
bank of japan balance sheetis the stock market going up in 2021stocks to watch 3 4 21markets updatemarkets dropmarkets latest news,People also search for,Privacy settings,How Search works,bank of japan balance sheet,is the stock market going up in 2021,stocks to watch 3 4 21,markets update,markets drop,markets latest news,stock market news 2021,what is going on with the stock market today