SWIFT: Bitcoin not a threat to other currencies

Region:

Europe

Callum Burroughs

Reporter

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Virtual currency Bitcoin has been deemed more likely to be a speculative investment rather than a medium of exchange according to a new report by SWIFT. The instigator of the blockchain holds no immediate threat to fiat currencies and has no correlation with traditional asset classes, according to the report. However, not all agree with the report’s findings as Bitcoin’s uptake elsewhere has shown great promise.