IMF Boss Suggests Cryptocurrency Could Change Lives
The International Monetary Fund with the head of Christine Lagarde detailed the global benefits of cryptocurencies, especially Bitcoin. She wrote in a blog, that BTC could make transactions faster and cheaper, and bloclchain could make financial markets safer.
Despite a rocky start, Bitcoin crept back above $8,000, following this blog, where she said;
“Just as a few technologies that emerged from the dot-com era have transformed our lives, the crypto assets that survive could have a significant impact on how we save, invest and pay our bills.”
She also commented last year, that the Bank of England should have an even-handed approach to regulation. She said;
“Before crypto-assets can transform financial activity in a meaningful and lasting way, they must earn the confidence and support of consumers and authorities…An important initial step will be to reach a consensus within the global regulatory community on the role crypto-assets should play. Because crypto-assets know no boundaries, international cooperation will be essential.”
Also she expressed her concerns regarding cryptocurrencies, and the perils that come along with it due to the decentralised and semi anonymous nature of the technology.
The exact fact is that her latest comments have definitely come at the right time, especially as Bitcoin has significantly dropped in value from the start of 2018. It is obviously hard to predict the market developments, and price price predictions are often just speculation.
Bitcoin has sustained the gain over the past few days. The price was trading around $8,000. It is clear, that a positive media presence has helped this, including an Islamic scholar declaring the digital asset halal under Sharia Law.