Danish Central Bank’s chief warns and says ‘Stay away from Bitcoin’

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The Chief of Danish Central Bank has warned the investors to “stay away” from Bitcoin.

Danmarks National Bank Director Lars Rohde argued that the Bitcoin is “dangerous” and, the bitcoin investment is gambling.

He said:

“If you do not like casinos, you’ve got a good alternative.”

Rohde added:

“I see bitcoin like tulip mania, like a bubble out of control.”

 

On a concluding note, the director included that the bitcoin market is “completely unregulated” and, even none of the protection is provided by the authorities.

He stated:

It is the responsibility of the individual and investors should not come complaining to us if it goes wrong.”

Rohde stated after the analysis from the central bank said regarding introducing a central-bank issued currency in the country would not result in better payment solutions and may also bring the risks of the financial instability.

The analysis described:

“In a Danish context, it is unclear what central bank digital currency would be able to contribute that is not already covered by the current payment solutions.”