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Ronald Maguire

29 May 2022 146 Read Crypto , Bitcoin

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Swedish Central Bank: "Bitcoin Is Not A Currency"

Swedish Central Bank Sveriges Riksbank said in a statement on its Twitter account that for Bitcoin to be accepted as a currency, it must meet three serious conditions. These three conditions are that it is a means of payment, that it functions as a store of value, and that it is a unit of account. According to Sverigees Riksbank, Bitcoin and other cryptocurrencies are assets rather than currency.

Bitcoin Is Not a Value Saver

The Swedish Central Bank states that Bitcoin is not a value saver due to its extreme volatility. A currency must have a substantially fixed price over time.

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