Connect with us

TECH

Bitcoin price LIVE – Dogecoin and Ethereum rocket in value as cryptocurrency market bounces back with BTC on the rise

CRYPTOCURRENCIES ‘A FARCE’

Cryptocurrencies such as Bitcoin are a “farce” and a symptom of bubbles forming in financial markets, Amundi chief investment officer Pascal Blanque said on Thursday.

Bitcoin, trading at around $39,364, fell 35% last month after China doubled down on efforts to prevent speculative and financial risks by cracking down on mining and trading of the largest cryptocurrency.

Speaking at a news conference, Blanque described the cryptocurrency as a “farce,” adding that it was a symptom of the bubbles forming in markets.

“Bitcoin will be remembered for pushing central banks to adopt digital money,” he said, adding that governments and regulators will ultimately “stop the music.”

Blanque said that it was much more important for investors to increase their exposure to the renminbi, China’s currency, then diversify into cryptocurrencies.

Click to comment

Leave a Reply

Your email address will not be published.

14 − twelve =