Bank Of England Keeps Powder Dry On Crypto 'Pockets Of Exuberance'

Highly-speculative crypto assets like bitcoin are becoming more interlinked with big investors, but they don't pose a threat that requires action beyond monitoring for now: Bank of England

Highly-speculative cryptoassets like bitcoin are becoming more interlinked with big investors, but they don't pose a threat that requires action beyond monitoring for now, the Bank of England (BoE) said on Tuesday. Price volatility in certain cryptoassets could highlight "potential pockets of exuberance", the BoE said in its twice-yearly Financial Stability Report (FSR). Cryptoassets are still largely held by retail investors, with more systemically important institutional investors having limited exposure at present, it added. BoE Governor Andrew Bailey repeated his warning that investors should be very clear they can lose all their money given that cryptoassets have "no intrinsic value".