Bank of England Governor Andrew Bailey on Monday explained that cryptocurrencies and other related assets are dangerous to the public, reiterating his long-standing concern about them.
“I’m skeptical about crypto-assets, frankly, because they’re dangerous and there’s a huge enthusiasm out there,” Bailey said to the British parliament’s Treasury Committee.
Bailey has previously said people should only invest in cryptocurrencies if they are prepared to lose all their money and warned that assets such as bitcoin do not fulfill key functions of a standard means of payment.
Recently, Bitcoin has lost more than 40% of its value since hitting a record high last month.
