Andrew Bailey, governor of the Bank of England, attacked digital tokens again on Monday, warning people not to use cryptocurrencies for payments.
"their values fluctuate dramatically, which is why they are generally not a good payment medium," Bailey said at a virtual conference. "
Among central bankers around the world, Bailey is a well-known critic of cryptocurrencies. Less than a month ago, he said there was a danger of "getting carried away" in financial innovation and warned people to be prepared to invest in cryptocurrencies.
On Monday, he reiterated his warning that people who want to buy cryptocurrencies should be prepared to lose money.
"given the volatility of the value of this asset and the fact that there are no real assets to support them, I worry that if you want to buy them, you have to understand that you may lose money and you may lose all your money," he said. "
"now, I'm not saying you're going to lose money. That's not the point. But you may (lose money) because there is nothing real to support them. "