Bank of England Governor Carney says cryptocurrencies are not currencies, they are assets and not going anywhere
- Bank of England governor was speaking Davos, providing his view on cryptocurrencies.
- Mark Carney believes that cryptocurrencies are assets and not going anywhere.
The Bank of England governor was speaking Davos, when he was questioned on the cryptocurrency market. Mark Carney has always openly shared his and the central bank’s view when it comes to cryptocurrencies.
He expressed that cryptocurrencies are here to say, however making it clear that they are not currencies. In our previous article we covered his comments earlier in the month, when asked about them via the central bank’s forum on their website.
Carney previously noted, no major high street or online retailer accepts Bitcoin as payment in the UK”. Adding that “the speed and cost of the transaction is slower and more expensive than payments in sterling. For example, Visa can process up to 65,000 transactions per second globally against just 7 per second for Bitcoin”.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
