Nigeria's Central Bank Says Investing in Bitcoin is Like Gambling
The Central Bank of Nigeria is another financial institution that has decided to speak against cryptocurrencies. The governor of this central bank has said that investing in bitcoin is like gambling. The bank's governor also said that bitcoin and cryptocurrencies in general might have to be regulated.
The Central Bank of Nigeria cannot support cryptocurrencies
The Central Bank of Nigeria's governor, Godwin Emefiele, said during an interview with Bloomberg that the central bank cannot support cryptocurrencies.
“Cryptocurrency or bitcoin is like a gamble, and there is a need for everybody to be very careful. We cannot as a central bank give support to situations where people risk savings to ‘gamble.’”
Of course, the Central Bank of Nigeria is just one of the many central banks which have decided to speak about the cryptocurrency market and their concerns linked to this market. Of course, one of the main topics that has been on the lips of everyone in this regard is the need to regulate cryptocurrencies.
The subject of regulating the cryptocurrency market has been constantly debated in the most recent period of time also because of the increase in the price of bitcoin and other cryptocurrencies, which of course led to a higher interest from a series of new investors.
The growing number of investors on the cryptocurrency market has led to a higher concern that bitcoin could be a bubble. One subject that has been in constant discussions has been the volatility of the bitcoin. However, despite all these concerns, the demand for cryptocurrencies seems to be in a constant growth.
