The latest ramblings from a banking head came at a conference this week in China., Bank of France Governor Francois Villeroy de Galhau reacted to the market volatility after Bitcoin hit the $11,000 milestone:
“We need to be clear: Bitcoin is in no way a currency or even a cryptocurrency. It is a speculative asset. Its value and extreme volatility have no economic basis, and they are nobody’s responsibility. The Bank of France reminds those investing in Bitcoin that they do so entirely at their own risk.”
America gears up for mainstream trading
While the Bank of France remains bullish on their stance of cryptocurrencies, America is gearing up for mainstream trading of Bitcoin this month.
On Friday, the US Commodity Futures Trading Commission granted permission for the Chicago Mercantile Exchange and Chicago Board Options Exchange to forge ahead with plans to launch Bitcoin Futures.
After a week of seesawing Bitcoin prices, the market reacted positively to the news and prices stabilized, hovering around the $11,000 mark on Saturday…