LONDON—Will 2022 see the surging interest and appreciation in digital currencies as was seen during 2021? Perhaps, but the Bank of England also has a warning, cautioning consumers that Bitcoin could be “worthless” and people investing in the digital currency should be prepared to lose everything.
In a warning over the potential risks for investors, the central bank questioned whether there was any inherent worth in the most prominent digital currency, which has soared in value this year to close to $50,000, The Guardian reported.
The cryptocurrency peaked above $67,000 in early November, but suffered a sell-off after news first broke of the Omicron variant of coronavirus, before stabilizing around its current level.
The deputy governor, Sir Jon Cunliffe, said the Bank had to be ready for risks linked to the rise of the crypto asset following rapid growth in its popularity.
“Their price can vary quite considerably and [Bitcoins] could theoretically or practically drop to zero,” he told the BBC.
“Celebrating 25 Years of Service: Unite, Ignite, and Empower” “We train and support volunteer leaders of credit unions serving first responders to run stronger, more effective institutions.” “Great things happen when credit unions serving first responders come together. Our face-to-face and on-line interaction is the platform where collaboration begins, and GREAT ideas are generated.”
Subscribe to:
Post Comments (Atom)
We Have Been Fighting the Wrong Competitor
We Have Been Fighting the Wrong Competitor Becky Reed — Featured Speaker at NCOFCU 2026 We are pleased to...
-
We Have Been Fighting the Wrong Competitor Becky Reed — Featured Speaker at NCOFCU 2026 We are pleased to... -
Federal Reserve Chairman Kevin Warsh reaffirmed the central bank's commitment to lowering consumer prices, acknowledging that inflation ... -
Alexandria, VA (August 24, 2026) ― Today, John Crews was sworn-in as the fourteenth Chairman of the National Credit Union Administration ... -
Robot Race Returns As we here in the US are worried about Data Centers, a Chinese-made robot defeated Jamaican athle... -
WASHINGTON—Reps. Janelle Bynum (D-OR) and Young Kim (R-CA) introduced bipartisan legislation Thursday that would significantly broaden the i...
-
By Ray Birch MADISON, Wis.— Six weeks after TruStage discovered the cyberattack that forced much of its technology environment offline, sign...
-
ALEXANDRIA, Va.--NCUA notified federal credit unions Wednesday that it considers changes to board meeting requirements following enactment ...
-
Former Open Solutions head man gets top job at major provider of video and audio technology. Hernandez, in the announcement, said, “As the...
No comments:
Post a Comment
Please no profanity or political comments.
Note: Only a member of this blog may post a comment.