The reasoning is what you’ve heard a million times by now: they’re just too volatile. Specifically, Quinn says: That said, Quinn says he approves of central bank digital currencies (CBDCs), which he claims “can facilitate international transactions” and “are likely to operate in a transparent manner.” CBDCs, however, lose much of the appeal of decentralized cryptocurrencies. The comments from Europe’s largest bank will come as a blow to some crytpocurrency enthusiasts, but not everyone is feeling the same way. Rival Goldman Sachs today announced it officially considers Bitcoin a new kind of investable asset class. This is despite the recent crashes in Bitcoin prices, which have been cut in half from their peak in April, largely influenced by Tesla’s flip–floppy stance on the currency.
