You are here: Home » Markets » News
Business Standard

Bitcoin makes history; BoE deputy says it can't threaten world economy

The cryptocurrency has climbed 10-fold so far this year

Reuters  |  London 

Bitcoin is not at a size where it would pose a risk to the global economy, Bank of England Deputy Governor Jon Cunliffe said on Wednesday, as the virtual currency soared to a record high above $10,000 on major exchange. The cryptocurrency has climbed 10-fold so far this year, the largest gain of all asset classes and prompting sceptics to warn it is a classic speculative bubble. "I would just say investors kind of need to do their homework," Cunliffe told BBC Radio. He said he did not think British households as a whole were going on a "debt-fuelled binge" ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, November 29 2017. 12:55 IST