Bitcoin Makes Bank Of England Governor ‘Nervous’

Andrew Bailey (Courtesy: Twitter)
Andrew Bailey (Courtesy: Twitter)

Bank of England Governor Andrew Bailey mentioned that it was difficult to see how Bitcoin BTC= had any intrinsic value and he cautioned over its use as a means of payment.

“I have to be honest, it is hard to see that Bitcoin has what we tend to call intrinsic value,” Bailey said during a BoE question and answer session with members of the public.

“It may have extrinsic value in the sense that people want it.”

He said he was “very nervous” about people using Bitcoin for payments because its value was uncertain, pointing out that investors should realise its price is extremely volatile.