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Elvira Nabiullina: "Bitcoin is not a currency»

Elvira Nabiullina: “Bitcoin is not a currency»

The Chairman of the Central Bank of Russia, Elvira Nabiullina, said that bitcoin is a fairly volatile and risky asset and cannot be considered a currency.

During a press conference held on Friday, Nabiullina noted that recently the interest in the first cryptocurrency among the population has grown significantly, and this was facilitated by the sharp growth of the asset. However, this does not negate the risks of investing in bitcoin. On the contrary, the risks of falling have only become higher, the chairman of the Central Bank of the Russian Federation believes.

“My attitude to private cryptocurrencies, including bitcoin, has not changed. And such a price increase only shows the potential volatility of such private cryptocurrencies. To be honest, the price of bitcoin does not even affect its essence. In our opinion, this is not a currency. There is interest in this asset, but the risks were the same, remain, and may even increase. The fact that this is a very volatile asset – as it quickly grows in price, just as it can fall, history has shown this, ” Nabiullina said.

Recall that now the Central Bank of the Russian Federation is developing a digital ruble. Testing of the national digital currency should begin this year. Earlier, Nabiullina said that in the future, Russian pensioners will even be able to receive pensions in digital rubles.