Breaking News

Israeli Prime Minister: Banks are doomed to disappear, bitcoin or behind the scenes

This year, with the rapid rise in the value of bitcoin, the media has reported it in a big way. Curiously, not all leaders of the country have ever talked about this topic. And the latest leader to talk bitcoin openly is Israeli Prime Minister Benjamin Netanyahu.

The Israeli Prime Minister and journalists were asked an impromptu questioning sitting in a parliament restaurant together - whether he had any advice on Bitcoin investments. He replied:

The first question to ask is, why can not you sell money? Why not? This is the same reason. The reason you can not sell your currency is because you are worried about it and want an intermediary to deal with the risk. Prevent theft and other acts. This is the meaning of the bank. Is the bank destined to disappear in the end? The answer is yes! So will the bank disappear tomorrow or will it disappear because of bitcoin? This is a problem. But the fact is, what I just said is a factor driving the price of bitcoin up.
When asked about the current bitcoin price volatility, the prime minister added:

It is impossible for nothing to continue in its present form.
Netanyahu graduated from MIT before he started his career as an Economic Advisor to Boston Consulting Group.

Encrypted currency of the country

Like the rest of the world, Israel has also been bitten by bitcoin in recent weeks. The local press reports daily price changes, interviewing overnight-richer investors and shows the long queue in front of Tel Aviv's bitcoin ATM machine.

Israeli financial media is also focusing on bitcoin because any reports related to cryptocurrencies are welcome. The most serious news is that a gold mining company's business to Bitcoin mining industry transfer. The company's shares traded on the Tel Aviv Stock Exchange, and its transfer of business has caused the company's shares to rise 3750% before regulatory intervention . Another headline is news that Colu, a local cryptocurrency development company, raised $ 14.5 million from IDB, Israel's largest holding company. At the same time, Israeli regulators also plan to launch a legal framework favorable to the development of the ICO by the end of the month .