A Bitcoin expert said that the Bank of England may consider acquiring Bitcoin before it hits the trade of $1 million.
In the present time, beside all the crypto assets, Bitcoin adoption is at tremendous level among Investors. Many government authorities know about the potential of Bitcoin because Bitcoin has better stability over other crypto assets, so many authorities are considering & thinking more about the Bitcoin adoption.
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Max Keiser, a bitcoin expert, said that the Bank of England had its eye on bitcoin before the bitcoin hit $1 million trade value.
Max believed that the adoption of bitcoin is because Bitcoin beated the Central banks globally through its potential, as reported by the Express.co.uk..
Max also said that the Bank of England is considering adopting bitcoin. But it will not be in the sudden decision, they will do it in multiple phases. BoE is in the initial phase of aggressive & angriness mode.
“The bargaining phase will be their central bank digital currency stage, and when that fails comes depression as the price tops £363,000 ($500,000) and then acceptance with the Bank of England scrambling to buy Bitcoin before it tops £727,000 ($1million) per coin”
Statements by the Max are coming after a recent statement of the deputy minister of Bank of England, where he stated that crypto are a threat to the global ecosystem and these should be banned.
Jon Cunliffe , Deputy governor of BoE, stated that huge volatility are very risky thing for bitcoin and it will impact ecosystem of economy badly through its volatility nature, so in this stage restrictions on the crypto space is needed further added
“But as the financial crisis showed us, you don’t have to account for a large proportion of the financial sector to trigger financial stability problems subprime was valued at about $1.2tn in 2008.”
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