bitcoin france

The governor of the Bank of France, Francois Villeroy de Galhau has stated that bitcoin is not a currency, and that it is not even a cryptocurrency.

These blanket statements were made a conference in Beijing, where Villeroy stated that there is a strong need for clarity on the status of bitcoin. This is an interesting point to state on the idea of bitcoin as most people are simply discrediting the currency rather than asking for clarification on the status of such a currency. This could mean that there is interest in France for using the currency, or that they are simply confused.

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The governor stated that “we need to be clear: Bitcoin is in no way a currency or even a cryptocurrency. It is a speculative asset. Its value and extreme volatility have no economic basis, and they are nobody’s responsibility.”

As many banks across the world have continued to state, Villeroy also stated that those who invest in bitcoin should do so “entirely at their own risk.”

The concept behind cryptocurrency is not something that is new, but to state that bitcoin is not a cryptocurrency is something that purely doesn’t make sense given that bitcoin was the first cryptocurrency created by the very idea for such.

Another critic of bitcoin has been the CEO of Goldman Sachs, Lloyd Blankfein. Blankfein has continuously stated that bitcoin is fraudulent and that he doesn’t believe in its potential.

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Bitcoin and the rest of the cryptocurrency world has presented an interesting opportunity to the entirety of the world economy. It is currently being tested by the public as a way to see whether or not a decentralized currency system can become a viable source of investment, a store of wealth, and a general financial system.


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