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Bank of Japan Governor: Bitcoin is Too Unreliable to be a Currency


Governor of the Bank of Japan Haruhiko Kuroda has cast doubts on bitcoin’s future as a currency.

“Without safety or stability in its value, there would be no demand. In that sense, it cannot be a currency,” he told reporters after a central bank policy meeting.

Kuroda added:

 ”It is not a currency, and I don’t think it is a general means of settlement,”

Kuroda’s comments, which were reported in the The Economic Times, come after nationwide shock in Japan at the bankruptcy of the now-infamous exchange, Mt. Gox, which was based in Tokyo, and other recent bad news for bitcoin, such as possible fraudulent activity at Cyprus-based Neo & Bee.

The central bank chief’s mention of stability also indicates that the perceived volatility of bitcoin is an issue of concern.


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