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Bank of England Governor raises concerns about El Salvador’s Bitcoin adoption
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Two months after El Salvador scripted history to become the first country to officiate Bitcoin as legal tender, proponents of the financial industry still don’t seem completely sold on the idea. Andrew Bailey, who is the Governor of the Bank of England, recently raised concerns about the same while speaking at a conference, according to Bloomberg.
Bailey was attending the Cambridge University student’s union, responding to questions during the session. He called El Salvador’s Bitcoin adoption concerning, as unsuspecting consumers could be hugely affected by its volatility. He said,
“It concerns me that a country would choose it as its national currency. What would worry me most of all is, do the citizens of El Salvador understand the nature
Read more on ambcrypto.comAbout this in other media
The bigger picture: What does El Salvador’s Bitcoin city mean for the global crypto market? economictimes.indiatimes.com /3 years ago
El Salvador and why hasty crypto-adoption isn’t the way to go ambcrypto.com /3 years ago
Expert calls El Salvador’s Bitcoin volcano bonds, ‘Michael Saylor playbook for a country’ ambcrypto.com /3 years ago
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