Bank of France and fabrications – The Governor of the Bank of France (BdF) has already, on several occasions, demonstrated concern over Bitcoin (BTC) and decentralized cryptocurrencies. Indeed, what could be more horrible for a central banker than to lose his exclusive privilege to mint coins (or rather, to print it by whole rolls). However, his concerns are difficult to understand, since for the banker, Bitcoin is nothing but a new “Tulip Bubble”.
The Banque de France criticizes (again and again) Bitcoin
Francois Villeroy de Galhaucurrent governor of the Bank of Francespoke again on March 22 on Bitcoin and crypto-assets, and obviously his comments were more than negatives.
As reported in particular by La Tribune, it was during a “forum on innovation” (don’t laugh) organized by the Bank for International Settlements (BRI) that the leader of the BdF has once again shown himself in his anti-cryptocurrency vision.
Indeed, the central banker is yet to issue a old argument rehashed for years – your present servant personally heard the refrain shortly after knowing bitcoin, in 2013. This is the comparison (not correct) of the price of Bitcoin with the speculative event of tulip bulbswhich took place around the year 1637, in Dutch marketplaces.
” [Bitcoin] does not constitute (…) a store of value, but rather a speculative asset, somewhat akin to tulip bulbs in the Netherlands in the 17th century. »
François Villeroy de Galhau, Governor of the Banque de France
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Bitcoin, stablecoins: nothing is good, except an MNBC of course
Despite already at least 9 years behind (if not more) the first to have told this fable of “Tulipomania” Bitcoin version (argument soon fossilized), the central banker does not budge, and also attacks the stablecoins.
These latter often indexed on fiat currencies like the dollarare not considered enough reliable for the Governor of the BdF:
” [Les stablecoins] create a certain fragmentation and are marred by regulatory and operational uncertainties. »
No, definitely, nothing suits Mr. Villeroy de Galhau, apart of course from a central bank digital currency (MNBC). As its name suggests, the latter has a huge “advantage”: it cannot be issued and controlled than by central bankers.
But, friends of the cryptosphere, rest assured (or not). The governor and the BdF specify that “resisting innovation is not part of our DNA”. Fortunately, otherwise what would it have been for Bitcoin! For all those who are not fans of the state paper money simply transposed into digital that are the MNBC, the salvador showed us another way, where these are bankers who must comply with bitcoin.
While you wait for approval from bureaucrats who have an excel spreadsheet instead of a brain, Elon Musk keeps hoarding bitcoin. So ? Do you prefer to imitate people who look gloomy, or follow a guy who sends rockets into space? We have already made our decision! And it’s on Kucoin that it’s happening ! (affiliate link, see terms and conditions on the official website).