The Bank of England: bitcoin threatens the global economy

Bitcoin is not a real danger to the world economy and financial institutions, said the Deputy President of the Bank of England sir Jon Cunliffe (Jon Cunliffe).

Bitcoin is too small to pose a threat to the world economy – investors should undertake a comprehensive analysis of the reasons for the phenomenal growth of crypto-currencies to avoid risks, he said in an interview with BBC Radio 5 Live.

«It’s not the size of macroeconomic risk for the world economy, but when the price is increasing, investors should be more work. It is not a currency in the conventional sense. There is no Central Bank that stands behind it. For me it’s more like a commodity,» said Cunliffe.

Within a few weeks the price of bitcoin is increasing, unprecedented, which has led many analysts and experts think about how it will grow in the future.

So a strategist on wall street, Tom Lee (Tom Lee) said that the price of bitcoin will reach $ 6,000 in mid-2018, and by 2022 the coin value can rise up to 25,000 dollars. A supporter of cryptocurrencies Mike Novogratz believes that within 2018 bitcoin will reach $ 40,000.

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