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Bank of France governor does not recognize Bitcoin as cryptocurrency

The French bank manager Francois Villeroy de Galhau has said that bitcoin is not a currency - and not even a cryptocurrency.

01.Dec.17 2:08 PM
By Daria Zaytseva


Bank of France governor does not recognize Bitcoin as cryptocurrency

In remarks at a Beijing conference, Villeroy stressed the need for "clarity" in Bitcoin's status, presenting an unusual angle that has not yet emerged as part of the main narrative. He believes that bitcoin is a speculative asset. “Its value and extreme volatility have no economic basis, and they are nobody’s responsibility.”

Repeating bearish warnings, more common for central banks around the world over the past few years, Villeroi added that the Bank of France "reminds those who investing in Bitcoin, that they do it entirely at their own and risk."

The concept that Bitcoin is not a cryptocurrency, stands out among the more unexpected statements from well-known economic sources this week.

Speaking to Bloomberg, the CEO of this network and founder Michael R. Bloomberg even embarrassed Bitcoin and Blockchain, coming out with the recently coined term "Bitchain."

Goldman Sachs president Lloyd Blankfein, who was also present at the interview, was on hand to fix it before Bloomberg continued that his network basically was, in fact, Blockchain.

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