Bitcoin’s Proponents May Be Downplaying Concerns About Volatility

In a late January speech at a Hoover Institute policy seminar, Bank for International Settlements General Manager Agustín Carstens argued that Bitcoin, along with other cryptocurrencies, was more of a speculative asset than actual money. He stated that fluctuations in value make it unrealistic to set prices, less useful as a means of exchange, and a poor store of value...