Against the backdrop of the recent correction of bitcoins and the subsequent return to the $ 12,000 mark, the head of the Bank of England Mark Carney, argues that the world's largest crypto-currency has failed almost in all directions.
According to him, bitcoin has failed as a viable currency, and as a means of preserving capital. In his statement, Carney referred to the volatility and the low spread of the crypto currency as a means of payment for retailers.
On February 19, Carney shared his position on bitcoin with students at the University of Regents in London, stating:
"Until now, he has shown his inconsistency when it comes to the traditional aspects of money. This is not a means of preserving capital, because it is stored all over the world. Nobody uses it as a means of exchange. "
Nevertheless, even Carney did not deny that the basic bitcoin technology is incredibly useful and has become a more than viable way to verify financial transactions in a decentralized manner.