According to BNP Paribas, Absence of Central Bank Will Limit Bitcoin’s Future

Bitcoin has been attacked for various reasons in the past – usage in crime, speculative bubble, etc. BNP Paribas has joined the chorus, saying that Bitcoin’s future is limited because there is no ‘lender of last resort.’

Deflationary with no central bank

According to a report published in the Telegraph, BNP Paribas has stated that the future of Bitcoin is limited, primarily because of the lack of a lender of last resort. According to BNP Paribas, this would result in significant risks and undermine monetary policy. The bank also attacks Bitcoin over its deflationary nature (limited issuance), high volatility and lack of regulation. While it has accepted that Japan has recognized Bitcoin as legal tender and positioned itself as technology-friendly, other governments could act against Bitcoin…

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