The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Sweden’s Central Bank Governor Warns of Bitcoin Collapse, Says BTC Is Like ‘Trading Stamps’

by Daily Hodl Staff
September 13, 2021
in Bitcoin, Regulators

The governor of Sveriges Riksbank, Sweden’s central bank, is skeptical of Bitcoin and foresees a potential collapse looming in the flagship crypto’s future.

During a banking conference in Stockholm, Stefan Ingves says that private money like Bitcoin and other cryptocurrencies “usually collapses sooner or later” as they don’t have the backing of a government

Ingves highlights that while one can get rich trading Bitcoin, he says that it is comparable to trading stamps.

Gabriel Makhlouf, governor of the central bank of Ireland, shares the same sentiments. Earlier this year, he said he was against putting personal funds into crypto, comparing supporters to those that “put money into tulips because they thought it was an investment.”

Meanwhile, another central banker is a bit more optimistic about the rise of crypto. Benoît Cœuré, the head of the innovation hub at the Bank for International Settlements (BIS), says crypto assets pose a threat to existing banking models.

“Stablecoins are knocking on the door, seeking regulatory approval. Decentralized finance (DeFi) platforms are challenging traditional financial intermediation. They all come with different regulatory questions, which need fast and consistent answers… But make no mistake: global stablecoins, DeFi platforms and big tech firms will challenge banks’ models regardless.”

According to Cœuré, central banks must act now to design and deploy their own digital currencies.

“CBDC (central bank digital currencies) will be part of the answer. A well-designed CBDC will be a safe and neutral means of payment and settlement asset, serving as a common interoperable platform around which the new payment ecosystem can organize… A CBDC’s goal is ultimately to preserve the best elements of our current systems while still allowing a safe space for tomorrow’s innovation. To do so, central banks have to act while the current system is still in place – and to act now.”

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/lassedesignen

Submit a Press Release

Industry Announcements

  • Venom Foundation Achieves 150,000 TPS in Closed-Network Stress Test, Paving the Way for 2025 Mainnet Upgrade
    May 23, 2025
  • XDC Network’s XVC Tech Announces Investment in Laser Digital Carry Fund, Launches Institutional Fund Infrastructure With Libre
    May 22, 2025
  • Psy Develops First Trustless Bridge From Dogecoin to Solana
    May 22, 2025
  • Mantle and Republic Technologies Forge Strategic Partnership To Pioneer Institutional mETH Integration
    May 22, 2025
  • BTCC Exchange Appoints Dan Liu as CEO Ahead of 14th Anniversary Milestone
    May 21, 2025
  • Bitcoin Suisse Secures In-Principle Approval From ADGM’s Financial Services Regulatory Authority
    May 21, 2025
  • Beer 2.0 – The Memecoin That’s Brewing Something Bigger on Solana
    May 20, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$108,213.99
$108,213.99
0.11%
Ethereum
$2,517.13
$2,517.13
1.27%
BNB
$666.69
$666.69
0.35%
Solana
$173.74
$173.74
0.67%
XRP
$2.32
$2.32
0.47%

Spotlight

  • Bitcoin Cycle Peak Coming Next Year, Says Crypto Analyst Jason Pizzino – Here Are His Targets
    May 17, 2025
  • Here’s How Bitcoin Explodes To Up to $200,000 This Summer, According to BitMEX Founder Arthur Hayes
    May 17, 2025
  • Thousands of Customers’ Names, Addresses, Birthdays and Other Info Leaked in Cyber Attack on Retail Giant: Report
    May 17, 2025
  • Major Bank Handing $4,100,000 To Americans After Allegedly Hammering Thousands of People With Unwanted Phone Calls
    May 17, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl