Bitcoin Fast Or Slow Collapse


Not everyone is sure about the future Bitcoin. One of them is the Governor of the Central Bank of Sweden Riksbank. He doubts that the most sought-after cryptocurrency will hold its value in the future.

Stefan Ingves as Governor of Riksbank doubts the value of Bitcoin will continue to be stable if it is not widely supported by the government. “Private money usually collapses sooner or later,” he was quoted as saying by detikINET from Market Watch, Monday (13/9/2021).

He also predicts that regulations on cryptocurrencies such as Bitcoin and Ether will become more stringent as their popularity increases. Statements that doubt the future of Bitcoin also come from the Governor of the Bank of Mexico, Alejandro Diaz de Leon.

According to him, Bitcoin is better intended as a tool for bartering rather than payment because its value often fluctuates drastically. “We believe this currency is more for bartering, exchanging goods for goods, not really money for exchange for goods,” he said.

Indeed, there are countries that have officially supported Bitcoin as legal tender, namely El Salvador. However, the implementation was not smooth and even made the price of Bitcoin fell.

“Headlines from EU regulators that are getting closer to implementing new regulations on cryptocurrencies, new anti-money laundering rules and mandatory tax reporting are adding to the pressure. Investors are afraid that tight rules and regulations could limit crypto adoption,” said Wael Makarem, an analyst at Exness.

However, of course the prediction or prediction is not necessarily true. As reported, many influential people believe Bitcoin and other cryptocurrencies are the future of the financial system.

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Moreover, there are other countries that will also legalize Bitcoin. It was reported that Ukraine became the next country to legalize cryptocurrencies Bitcoin Cs. The Ukrainian parliament has just signed the Virtual Assets Law, which includes provisions for the legalization of crypto assets.

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