Bashing Bitcoin (BTC) has apparently become a popular trend at Davos’ recent World Economic Forum event. More specifically, the cryptocurrency has become a punching bag. Just yesterday, per previous reports from Ethereum World News, Huw Van Steenis, the senior advisor to Bank of England’s governor, Mark Carney, bashed this nascent asset class.
Speaking to Bloomberg in a candid interview, Steenis, who purportedly is compiling a report about the future of finance, surprisingly claimed that cryptocurrencies, like Bitcoin aren’t on his radar, or list of concerns for that matter. The former Morgan Stanley economist then remarked that blockchain-based assets “fail” the basic tests that financial services are de-facto run through. Steenis explained that BTC, along with other digital assets, is slow, fail to hold their value over time, and aren’t a viable, bonafide Medium of Exchange (MoE).