Irish central bank governor warns Bitcoin investors will lose everything – Markets

Irish central bank governor warns Bitcoin investors will lose everything - Markets

Gabriel McLeof, a member of the European Central Bank’s board of governors, said in a central bank’s latest warning about cryptocurrency.

“Personally, I do not know why people are investing in such assets, but they are clearly seen as assets,” said Makhlouf, who is also governor of the Central Bank of Ireland. Bloomberg TV Friday. “Our role is to ensure that consumers are protected.”

Makhlouf’s comments echo the skepticism of ECB leaders. President Christine Lagarde said this month that cryptocurrency is a very ulaha trading asset. Bitcoin prices have more than doubled since November and topped $ 40,000 earlier this month. Over the past nine days, there have been four daily fluctuations of more than 5%.

On Friday, Bitcoin soared above $ 35,000, prompting brokers to move Elon Musk, who referred to cryptocurrency on his Twitter account.

However, Makhlouf does not see the “financial stability issues that arise from bitcoin alone.”

I am more concerned that users will make the right choices, ”he said.

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