Be Careful Because 'Cryptos are NOT Currencies' | Christine Legarde of the ECB

Christine Legarde of the European Central Bank came out today and claimed that 'cryptos are not currencies', instead calling them highly speculative assets and even bringing up their energy usage.

Today we take a look at the definition of a currency, whether or not Bitcoin qualifies, a review of the difference between money and currency and perhaps why Legrade would make such a bold claim.

What are your thoughts? Is Bitcoin a currency? Drop them in a comment below.
Alec

#bitcoin #crypto #cryptocurrency #bitcoinnews
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DISCLAIMER: Everything Alec Torelli says on the CrypTorelli YouTube, his trades, strategies, and news coverage are based on his opinions alone and are only for entertainment purposes. You should not take any of this information as guidance for buying or selling any type of investment or security. I am not a financial advisor and anything that I say on this YouTube channel should not be seen as financial advice. I am only sharing my biased opinion based off of speculation and personal experience. An individual trader's results may not be typical and may vary from person to person. It is important to keep in mind that there are risks associated with investing in the cryptocurrencies and public and private markets, and that one can lose all of their investment. Thus, trades should not be based on the opinions of others but by your own research and due diligence. You and you alone are responsible for all of the financial risks you take.