Shocking Statement from Sweden’s Central Bank: The Push Against Bitcoin in the Financial System
The governor of Sweden’s central bank has made it clear that he wants nothing to do with bitcoin. Riksbank Governor Erik Thedeen recently spoke out against the cryptocurrency, stating that it is impossible to value and is based solely on speculation.
Speaking to reporters after a parliamentary hearing on monetary policy, Thedeen emphasized that “it’s an instrument that is impossible to value, and in practice it’s based on pure speculation.” He also pointed to the recent collapse of crypto exchanges and individuals losing money as evidence of the unstable nature of bitcoin.
While the cryptocurrency market, led by bitcoin, is currently experiencing a record-breaking bullish run, Thedeen warned that this surge could quickly turn into a collapse, citing the previous instances of bitcoin’s value plummeting. He also stressed the importance of warning people who believe that there is no limit to bitcoin’s growth and that it is an easy way to make money.
Sweden, a country known for its progressive and tech-savvy nature, has already taken steps to limit the impact of cryptocurrency within its borders. In 2022, the country led European Union regulators in calling for a ban on crypto mining due to energy concerns. The regulators were worried that renewable energy would be diverted towards crypto mining instead of being used for national grids, at a time when the EU’s energy supply was in crisis.
Additionally, Sweden abolished tax incentives for data centers in April 2023, including those used for bitcoin mining. This led to threats of a 6,000% increase in energy taxes from the bitcoin mining industry.
It is clear that Thedeen and the Swedish government have concerns about the impact of bitcoin on their economy and energy supply. With the recent surge in bitcoin’s value, it is likely that they will continue to monitor the situation closely and take necessary actions to limit its influence.
In conclusion, Riksbank Governor Erik Thedeen has expressed his skepticism and concerns about bitcoin, stating that he wants as little of it as possible in the country’s financial system. He also emphasized the need to warn people about the potential risks of investing in an instrument that is impossible to value and based on pure speculation. As the debate about cryptocurrency continues, it is evident that countries like Sweden are closely monitoring and regulating its impact on their economies.
