Saturday 4 April, 2020

Watch: Bank of England chief blasts cryptocurrencies

The Governor of the Bank of England said on Friday that cryptocurrencies were "failing". Mark Carney said, "prices of many cryptocurrencies have exhibited all the classic hallmarks of bubbles".

He said that included "extrapolative price expectations reliant, in part, on finding the greater fool".

Carney addressed the 2018 Scottish Economics Conference in London.

His speech was meant to take place in Edinburgh, where the conference was held, but the current weather conditions prevented his travel.

 

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