Invited on Thursday to France Inter, François Villeroy de Galhau, the governor of the Bank of France, gave his opinion on the rise in Bitcoin (BTC). What did he say?
The governor of the Bank of France gives his opinion on Bitcoin
Wednesday morning on France Inter, François Villeroy de Galhau, the governor of the Banque de France, was invited to the microphone of Léa Salamé and Nicolas Demorand to talk about the latest monthly economic survey carried out by his institution among 8,500 business leaders .
During the interview, the recent rise of Bitcoin (BTC) is discussedand the guest is asked how this can be explained and whether or not it is appropriate to invest in the asset.
💡 What is Bitcoin (BTC) really?
While we could have expected a particularly critical response, François Villeroy de Galhau certainly expressed warnings, but was less categorical than in 2022 for example, where he compared the rise of Bitcoin to the speculative bubble tulips.
Firstly, he recalled Donald Trump's crypto-friendly position in terms of regulation, before alerting investors:
However, Bitcoin is not becoming a safe asset. I repeat what my colleagues and I have often said, it is a risky asset. That doesn't mean that you can't invest in Bitcoin, that's part of freedom, but the advice is to reserve it for informed investors.
In fact, it is a reality: as with any asset class, it is essential to train before investing. In this regard, our experts from Cryptoast Academy can help you.
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The trade-off between return and risk
While the guest then tries to bounce back from the major declines that occurred between 2021 and 2022, Léa Salamé cuts him off to ask him what to respond to listeners saying that now that Bitcoin “ is deregulated in the United States, I will make money easily “.
While the reflection wonderfully reflects the approximate knowledge of mainstream journalists regarding the subject, François Villeroy de Galhau uses it to deviate from the subject towards broader advice :
If someone one day promises you a financial product that pays a lot and carries no risk, run away. The safest law in finance, over time, is that there is an arbitration between return and risk.
👉 Also in the news — can Bitcoin hit $100,000 by Christmas? Vincent Ganne's analysis
In the meantime, the price of BTC has increased by 4% in the last 24 hours, to trade at $91,200 at the time of writing. From now on, the capitalization of the assets amounts to 1,800 billion dollars, for a dominance of 60% over the capitalization of the ecosystem.
Cryptoast Academy: don’t miss the bullrun, join our experts
Source: Interview
Image: Jakob Polacsek via Flickr (CC BY-NC-SA 2.0)
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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