Sweden’s central bank governor seeks to keep Bitcoin trading away from the country’s financial system, warning about potential losses after the crypto currency has reached new all-time highs. “I want as little Bitcoin as possible in the Swedish financial system,” Erik Thedeen told reporters after a parliamentary hearing on monetary policy on Tuesday. “It’s an instrument that is impossible to value, and in practice it’s based on pure speculation.
Thedeen said that while Bitcoin doesn’t pose a threat to financial stability, it remains a risk to consumers. “We have seen exchanges in the US collapse and individuals losing money,” he said. “Right now there’s a surge but we have seen the value collapsing not long ago, and it is important to warn people who believe there is no limit and that there’s free money to be made.” © 2024 Bloomberg