Cryptocurrencies
BIS’s Coeure Says Bitcoin Failed Test on Being a Currency
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Bitcoin’s volatile value makes it impossible to consider the crypto-asset a currency, according to the Bank of International Settlement’s Benoit Coeure.
“Bitcoin can be an investment instrument and it’s not for me to judge on that or to advise on that,” the head of the BIS Innovation Hub said in an interview with Bloomberg Television. “But it has failed the test of being a currency, it has failed the test of being a payment instrument -- just because the value is moving around so much.”