Breaking: BoE Governor Bailey Calls Bitcoin "Highly Risky Investment Opportunity"
In a speech today, Bank of England governor Andrew Bailey has ramped up his criticism of Bitcoin, claiming that it has no connection to money.
I will start with crypto-assets, such as bitcoin, which have appeared in the last ten years or so. They have no connection at all to money.
Bailey adds that cryptocurrencies such as Bitcoin "may have" extrinsic value but they are a "highly risky" investment opportunity.
He also noted that cryptocurrency assets are unusable for payments while praising stablecoins:
