Bank of England Gov: Bitcoin Doesn’t Satisfy the Principles of Currency

By CCN: Dave Ramsden, deputy governor for markets and banking at the Bank of England, said in an interview with CNBC that crypto assets like bitcoin are too volatile to be a store of value and they do not meet the principles of currency. Citing the research of the Financial Policy Committee (FPC), Ramsden stated that the high volatility and the relatively high costs of crypto transaction settlement make cryptocurrencies less practical as currency. Volatility Could be an Issue for Bitcoin and Crypto but Time Will Fix It For any new or emerging asset class, volatility could be an issue

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