Saturday 28 March 2020 ,
Saturday 28 March 2020 ,
Latest News
  • No new coronavirus case reported in 24 hrs in Bangladesh:IEDCR
  • Rumors hampering fight against coronavirus in South Asia
  • Coronavirus crisis: Global death toll now 27,359
  • 5 killed in Tangail road crash
  • Trump signs $2 trillion recovery plan as US virus cases skyrocket
  • Mobile court’s punishment in Monirampur sparks huge
  • Coronavirus cases rise to 48 in Bangladesh
  • The new hot line number for coronavirus: 01944333222
1 December, 2017 00:00 00 AM
Print

ECB warns on Bitcoin bonanza

AFP

AFP, PARIS: The vice-president of the European Central Bank on Wednesday expressed concern about the relentless rise in value of the virtual currency Bitcoin and the potential risk accompanying the trend. “It’s a very particular asset, it’s a speculative asset by definition looking to the developments in its price. Investors are taking that risk of buying at such high prices,” Constancio told CNBC television. Bitcoin smashed through the $10,000 barrier this week—compared with less than $1,000 this time last year. The rise has taken the overall market capitalisation of hundreds of so-called cryptocurrencies beyond $300 billion as demand for digital currencies soars.

Despite his warning, Constancio said he did not think Bitcoin’s extreme volatility would spread to other markets.

ECB President Mario Draghi said last October it was too early for the ECB to consider regulating virtual. currencies.

Russia’s central bank has also notably warned of the potential losses investors may suffer if they put their hard cash into the crypto variety.

The boss of JP Morgan Chase has labelled Bitcoin a fraud, while China has closed down Bitcoin trading platforms and South Korea this week expressed concern the trend could lead young investors to become embroiled in fraud. Even so, the virtual coin received a major boost last month when exchange giant CME Group announced it would launch a futures marketplace for Bitcoin, which has not been listed on a major bourse before.

 

Comments


Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting