Norway’s finance minister believes bitcoin could experience “breakthroughs”. He added that “there is no doubt that there is a lot of interest in cryptocurrency in Norway and internationally.”
Norway’s Finance Minister Says Bitcoin Can Succeed
Bloomberg reported that Norway’s Finance Minister Jan Torey Saner suggested in an interview last week that “cryptocurrencies will at some point move beyond the volatility they are currently known for and experience a period of ‘breakthroughs’. ” He was quoted as saying:
It is clear that over time there may be an evolution, whereby you will be able to have more stabilization mechanisms in currencies which can lead to more success and volatility in the slightly longer term.
However, he said that for the time being, cryptocurrency is not a market he would recommend consumers to enter.
The finance minister said he does not believe crypto assets will go mainstream unless they are properly regulated, noting that cryptocurrencies are also “popular with criminals”.
Still, Saner said that people should be free to make their own decision whether to invest in bitcoin, but stressed that the cryptocurrency is not yet ready to be used as a substitute for money. They said:
There is no doubt that there is a lot of interest in cryptocurrencies in Norway and internationally. But so far it has been unsuitable as a means of payment.
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