For those who watched the Brookings webinar that hosted Britain’s Central Bank CPF +1.5% Governor Andrew Bailey for a webinar on crypto assets, stablecoins, and central bank digital currencies, there was no subtly in how he felt about each of these digital asset categories. When it comes to the discussion of whether Bitcoin could play a role as either a store of value or for payments, his comments were bloody, in both the American and English interpretations of the word.
“Let me start with crypto assets such as Bitcoin which have appeared in the last ten years. They don’t have any connection to money at all…their value can fluctuate widely unsurprisingly. They strike me as fundamentally unsuited to the world of payments where a certainty of value matters,” said Bailey.