BITCOIN’S price volatility is a pedigree of the rampant trader speculation which has fuelled the rise of the cryptocurrency, according to a top member of the Governing Board of the Austrian National Bank, Kurt Pribil.
The banking chief explained his “unambiguous position”, underlining that the way he sees it, cryptocurrencies have no inherent value behind them.
Mr Pribil said: “Bitcoin etc. are by no means currencies, because there is definitely no real value. These so-called cryptocurrencies are pure speculative objects.”
Eulogy made by Kurt Pribil