BREAKING NEWS

BREAKING NEWS

Bitcoin not big enough to threaten world economy, BoE deputy says

Bitcoin not big enough to threaten world economy, BoE deputy says
Text size Aa Aa
LONDON (Reuters) - Bank of England Deputy Governor Jon Cunliffe said bitcoin, which hit a record high above $10,000 earlier on Wednesday, is not at a size where it would pose a risk to the global economy. Bitcoin has soared more than 900 percent so far this year, the largest gain of all asset classes and prompting sceptics to say it is a classic speculative bubble. "I would just say investors kind of need to do their homework," Cunliffe told BBC radio. He said he did not think British households as a whole were going on a "debt-fuelled binge" but added that fast rates of consumer credit growth needed to be watched. (Reporting by Andy Bruce; Editing by Christian Schmollinger)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.