Japan and the European Central Bank Governor stated at the same time: Bitcoin is not a currency, it is a speculative asset.

“Bitcoin is an asset” and this description is widely recognized both in the cryptocurrency community and at the government and banking institutions. However, Bitcoin supporters also believe that Bitcoin is a kind of peer-to-peer digital cash, a currency. But as the responsible agency of the national and regional monetary system, the central bank does not think so. Is Bitcoin an asset or a currency? The President of the European Central Bank (ECB) and the Governor of the Central Bank of Japan have voiced their official positions today.

European Central Bank (ECB) President: Bitcoin is not a currency, it is a speculative asset

On May 9, the official bank of the European Central Bank (ECB) released a speech by the president of the bank, Mario Draghi, at the "ECB Youth Dialogue" event. In response to a student's question about cryptocurrencies, Draghi said:

"Cryptographic currency, such as Bitcoin, is not a real currency, but an asset. The euro is the euro. Today, tomorrow or a month, the euro has always been the euro. The European Central Bank provides support for the euro, who provides support for the cryptocurrency. So they are very, very risky assets, and their value is as crazy as you can see. At present, they are not enough to have a huge impact on our economy, so we tend to see them as a kind of speculation. Sexual assets are extremely risky. In addition, Bitcoin may not actually be within the scope of central bank supervision and supervision. I believe that their regulation is in the scope of consumer protection because it involves ensuring that people know that they are buying these assets. The risks involved."

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Japanese Bank of Japan Governor Haruhiko Kuroda: Bitcoin is not a legal currency, mainly for speculation

On May 9th, on the other side of the globe, in Japan, which has been relatively friendly to cryptocurrencies, Japan’s central bank governor Kuroda said today that he answered questions related to “cryptocurrency and economy” proposed by Japanese Senator Fujiwara Kenji.

“Encrypted assets are not in the legal currency category and are extremely unstable. At the same time, encrypted assets are basically not used for payment and settlement, but for speculation. Considering that encrypted assets may damage people’s trust in payment settlement, the central bank will Continue to monitor its movements."

Kuroda also said that in the international community, "encrypted assets" rather than "cryptocurrencies" are generally used to describe bitcoins, such as the Bank for International Settlements (BIS) and most national banks.

The cryptocurrency market has recently rebounded strongly. Although it was affected by hackers stealing 7,000 bitcoins yesterday, the cryptocurrency market fell yesterday, but the market quickly recovered. Bitcoin broke through $6,100 again today. It is in a new high position in 2019.

The function of cryptocurrency such as Bitcoin as a currency is still not recognized at the international and national levels, but with the participation of large institutions, such as the Intercontinental Exchange (ICE) Bakkt trading platform, Fidelity's cryptocurrency trading services, etc., Bitcoin The mainstream adoption will gradually expand. Who can be sure that Bitcoin will not become a legal currency in the future?

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