The Bank for International Settlements (BIS) also commented on crypto and digital currencies: Only central banks should issue digital money.
In a speech yesterday at the Hoover Institute, BIS president Agustin Carstens stated that cryptocurrencies are inherently risky assets and said, “Bitcoin investors should realize that it may collapse one day. Because as it approaches the maximum supply of 21 million, the system becomes more vulnerable to external attacks, ”he said.
How much do you agree with these views?
Recently one of the major stories that has made headlines in the cryptocurrency world is the purchase ob Bitcoin from Tesla in the amount of 1,5 billion dollars. This has caused the price of Bitcoin to soar to new heights even beyond what we saw towards the end of last year and the start of this year. However, there is fear that these investments can affect the stock market. After the announcement the stock price of Tesla increased by 2%, before later falling by 5%. Other companies that have invested in Bitcoin have seen a similar occurrence in their stock prices after investing in Bitcoin. What do you think can be the cause behind this?
The famous Ceo tweeted out why she was interested in Bitcoin.
He said his passion for Bitcoin was largely due to the model he showed.
Noting the importance of being a basic internet technology that is not controlled or affected by any person or organization, That is what the Internet wants to be, and more will happen over time, he said.
What do you think about a Twitter official making a statement about Bitcoin for the first time?
According to Citigroup analysts, there is a marked increase in the relationship of big companies and institutions with bitcoin. The current time is reported to be critical for bitcoin, and it is predicted that bitcoin could become a clearinghouse in the new world trade. Another predictions are that there may be a speculative explosion at any moment.
What do you think of these statements?
Elon Musk recently claimed the position of being the world richest man. However the correction factor that we saw and bitcoin yesterday or resulted in a major decline in the price of Bitcoin and as a result of this drop in Bitcoin price the company stock for Tesla also dropped by around 21%. This has resulted in Elon Musk actually losing his position as the richest man. Do you feel that this is a position that he can reclaim if the market adjusts and the price rises once again?