Sentences with phrase «bitcoin as an investment tool»
Warning that the use of bitcoins as an investment tool is limited because there is no underlying asset and the virtual currency is subject to high volatility, the central bank said speculators are at risk, as they would have no legal recourse if there is a loss of confidence in the cryptocurrency or if they are victims of theft from hackers.
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The DFS highlights three areas of particular concern: ensuring payments are processed quickly to build user confidence that money will not «get stuck in a digital black hole»; ensuring virtual currencies do not become the tool of choice for terrorists, drug smugglers, illegal weapons dealers, money launderers, and human traffickers; making sure that the use of bitcoin as an investment is governed properly.
Even in the US, major exchanges have started offering Bitcoin futures as tools for more institutional investment participation.