Поделиться этой статьей
Former Bundesbank Chief: Bitcoin Doesn't Meet Full Definition of a Currency
UBS chairman Axel Weber offered a strong rebuke of cryptocurrencies during an event in Zürich earlier today.
Автор Stan Higgins
Make us preferred on Google
The chairman of Swiss banking giant UBS doesn't believe that bitcoin meets the full definition of a currency, according to new statements.
Axel Weber, who previously served as head of the Bundesbank, Germany's central bank, made the remarks during an event in Zürich earlier today, according to Reuters.
STORY CONTINUES BELOW
Не пропустите другую историю.Подпишитесь на рассылку Crypto Daybook Americas сегодня. Просмотреть все рассылки
After noting that his skepticism toward the cryptocurrency "probably comes from my background as a central banker," Weber argued that in spite of arguments to the contrary, bitcoin only partially satisfies the common definition of a currency.
He told event attendees:
"The important function of a currency is, it’s a means of payment, it has to be generally accepted, it has to be a store of value and it’s a transaction currency. Bitcoin is only a transaction currency."
Weber reportedly criticized the cryptocurrency market back in late 2015, according to a report at the time from City A.M. He is said to have remarked that the bitcoin model is set to fail "because there is no lender of last resort – there will always be boom and bust."
The UBS chairman becomes the latest figure from a major financial institution to weigh in on the topic of cryptocurrencies. Just yesterday, Lloyd Blankfein, the CEO of Wall Street investment bank Goldman Sachs, took to Twitter to offer an open (if not neutral) perspective on bitcoin.
Image Credit: International Monetary Fund/Flickr
Больше для вас
‘Bitcoin to zero’ searches spike in the U.S., but the bottom signal is mixed
Google Trends data shows the term hit a record high in the U.S. this month, though global interest has fallen since peaking in August.
Что нужно знать:
- U.S. searches for “bitcoin zero” on Google hit a record high in February as BTC slid toward $60,000 after hitting a peak in October.
- In the rest of the world, searches for the term peaked in August, suggesting fear is concentrated in the U.S. rather than worldwide.
- Similar U.S. search spikes in 2021 and 2022 coincided with local bottoms.
- Because Google Trends measures relative interest on a 0-to-100 scale amid a much larger bitcoin user base today, the latest U.S. spike signals elevated retail anxiety, but does not reliably guarantee a clean contrarian reversal.
Top Stories
