Bitcoin News: Bloomberg reports that Bank of Japan governor Haruhiko Kuroda has joined the “chorus of central bankers” who have been harshly critical of Bitcoin, which has plummeted after a massive spike over the past few months. Well-known German economist Holger Zschaepitz called this the trigger that pushed Bitcoin below the $ 40,000 critical line.
Bitcoin criticism from Kuroda
On Thursday morning, Kuroda stated that much of Bitcoin trading is very speculative and the asset shows exceptionally high volatility. He added that BTC was almost never used as a payment instrument.
In early May, Bank of England chief Andrew Bailey warned that digital assets do not have any internal value and investors should be prepared to lose all their money on Bitcoin and similar assets.
Recent Bitcoin price action
After hitting an all-time high of $64,800 on April 14, several key factors forced Bitcoin to decline. These came after Tesla announced that it stopped accepting Bitcoin due to its controversial CO2 issues and that China continues its witch hunt against cryptocurrencies and crypto miners.
Bitcoin is trading at $ 36,716 at the time of writing.