Andrew Bailey, who will soon head the Bank of England, has once again warned investors that the purchase of cryptocurrency may end in loss of funds.
Next BoE Governor “Be Prepared to Lose All Your Money” With Bitcoin
Previously, Andrew Bailey was Deputy Governor of the UK Central Bank, but was recently appointed as its next governor. He is due to take up his new position on March 16, 2020.
Speaking out on Wednesday before the UK Parliament, Bailey reaffirmed his previous stance on the cryptocurrency market.
According to him, the value of bitcoin can not be guaranteed by anyone and it has no real intrinsic value, so those who want to buy it should be well aware that in the end they can lose all their money..
It looks like the next chapter will revise the Bank of England’s policy on cryptocurrencies and stablecoins. Since retiring Mark Carney previously offered replace the dollar with a single international digital currency, and the regulator, under his leadership, actively studied CBDC and was ready to compromise with Libra.
text: Ivan Malichenko, photo: Telegraph, video: Twitter / Blockfolio