RBNZ’s Spencer: Bitcoin ‘looks remarkably like a bubble forming to me’
|The Reserve Bank of New Zealand (RBNZ) Governor Grant Spencer said in an interview with TVNZ broadcast on Sunday, Bitcoin is a bubble.
Key Quotes via Bloomberg:
"It looks remarkably like a bubble forming to me"
"Over the centuries we've seen bubbles, and this appears to be a bit of a classic case. With a bubble, you never know how far it's going to go before it comes down."
“Bitcoin is to me very much like gold. It’s mined, it has a fixed quality and the price is very volatile.”
“I think digital currencies, cryptocurrencies, are a real and serious proposition for the future. I think they are part of the future, but not the sort that we see in bitcoin.”
“I think a cryptocurrency that has a more stable value will be the sort of cryptocurrency that’s more useful for the future.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.