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IMF Head Says Bitcoin Is Not Money

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Tue, 10/05/2021 - 16:09
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Alex Dovbnya
The IMF's Kristalina Georgieva has doubled down on her criticism of Bitcoin
IMF Head Says Bitcoin Is Not Money
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During a virtual event organized by Italy's Bocconi University, Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), said that Bitcoin cannot be recognized as money, Reuters reports.

Georgieva states that cryptocurrencies of the likes of Bitcoin are too volatile to fulfill such a role:
 

In the history of money, it is difficult to think of them as money.
 

In July, Georgieva predicted that Bitcoin would remain the global reserve currency.   

As reported by U.Today, IMF economists outlined a slew of risks associated with the proliferation of cryptocurrencies in a recent post.

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IMF Not Happy About El Salvador's Bitcoin Bombshell
Georgieva, who has been at the helm of the IMF since 2019, is currently in the middle of a major scandal linked to data rigging claims.

During her stint as the CEO of World Bank, the influential Bulgarian economist reportedly goaded her employees into fabricating data in order to improve China's ranking. Georgieva strongly denies the accusations.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.