Bitcoin, and cryptocurrencies in general, has been a controversial topic for a long time. There are many words for what cryptocurrencies pretend to be but are not: decentralized, safe, fair, valuable, stable, a currency, honest, a solution, the future. Much like many other central bankers, Sweden’s Central Bank governor is very skeptical about Bitcoin trading. The Sveriges Riksbank Governor’s Take On Bitcoin According to a Bloomberg article, the governor of Sveriges Riksbank, the central bank of Sweden, questioned the staying power of currencies without government backing. He compared buying and selling Bitcoins to trading stamps. Speaking at a banking conference in Stockholm, Sveriges Riksbank governor Stefan Ingves argued, “Private money usually collapses sooner or later,”. Further remarking, he said, “And sure, you can get rich by trading in bitcoin, but it’s comparable to trading in stamps.” Earlier this year, Ingves said that Bitcoin and other cryptocurrencies are unlikely to escape regulatory oversight as their popularity grows. Related Reading | Sweden to Bring Forward Launch of State-Backed Digital Currency e-Krona Despite his opinion of Bitcoin’s deficiencies as a currency, Ingves has taken its reputation among investors seriously. Highlighting consumer interests and money laundering as being of particular concern, the central banker conceded this June that the cryptocurrency had gotten “big enough” to meri...
