The RBA’s head of payments, Tony Richards, said the value of many cryptocurrencies, which have surged to $US2.6 trillion, could crash when central banks decide to assert control over their monetary systems.
He has warned users and investors in fad-fuelled cryptocurrencies such as bitcoin they risk holding speculative assets with “niche” uses that could lose most of their value.
https://www.rba.gov.au/speeches/2021/sp-so-2021-11-18.html
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