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French Central Bank Governor: Bitcoin is speculative, investors need to be completely "at your own risk"

The governor of the French Central Bank issued a warning today about the risks of investing in bitcoin.

According to a report in the British newspaper The Independent, François Villeroy de Galhau, president of the Bank of France, said Bitcoin is a "speculative" asset that is not a currency and "not even a cryptocurrency."

Villeroy said at an event in China:

"The value of Bitcoin and the extreme volatility have no economic base and Bitcoin has no responsibility."
He said the French central bank warned those who bought bitcoin to "be completely at their own risk."

Villeroy's position echoes the position of Vitor Constancio, ECB vice president, who said shortly before the risk that investors are risking the current buys of bitcoin.

At a time when many media outlets are raging about bitcoin prices, bitcoin prices climbed to $ 11,000 last week. As of press time bitcoin prices have exceeded $ 11,400.

Stunning price increases prompted some prominent figures in the financial community to declare bitcoin a bubble, including billionaire investor Carl Icahn.

Like other central banks, although the French central bank is not optimistic about the cryptocurrency, but the blockchain technology has shown great interest.

In February of this year, the financial institution set up a new innovation laboratory focusing on working with blockchain startups.