Deputy Chairman of the Bank of Russia: “digital currencies do not have the properties of money”

Deputy Chairman of the Bank of Russia: “digital currencies do not have the properties of money”

Deputy Chairman of the Central Bank of Russia Alexey Zabotkin believes that bitcoin and other crypto assets do not have the properties of money and are not a store of value.

He stated that due to the high volatility of cryptocurrencies and the daily fluctuations in their value, digital assets can

hardly be called a store of value.  The deputy chairman cited bitcoin as an example, the cost of which had already repeatedly and sharply decreased.

So, in early December, bitcoin fell by $ 1,700 after another attempt to overcome its historic maximum of $ 20,000. And at the end of November, the bitcoin rate completely collapsed by $ 3,000 in just a few hours,

after which the leading altcoins lost about 20%.

In addition, according to Zabotkin, digital tokens can be transferred from one owner to another, but cannot be

a means of payment, since the issuers of digital currencies do not guarantee the stability of their issue and further circulation.

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