Japan’s central bank is casting doubts on bitcoin after recent volatilities, according to Bloomberg. Governor Haruhiko Kuroda says bitcoin can barely be used as a means of payment due to intense volatilities and speculative trading.
Bank of Japan Governor’s comments reflect those of Fed’s Jerome Powel who in April termed digital assets as vehicles for speculation.
European Central Bank Vice President Luis de Guindos has in the past said digital tokens should not be viewed as real investments.
The Bank of England has warned that digital assets lack an intrinsic value and those who buy them should be prepared to lose their investment.
The growing criticism of digital assets come at a time China has warned against speculative trading and mining of bitcoin.
Some investors, including Bridgewater’s Ray Dalio, expect cryptocurrencies to gain traction, attracting investors from government bonds. Carl Icahn, previously said that he is looking to invest “big” in crypto.
Major cryptocurrencies are currently declining. BTCUSD is down 4.40%, ETHUSD is down 5.36%
