Bailey previously expressed his negative views on Bitcoin in December 2017 in one interview with BCC's Newsnight. “Buying Bitcoin is similar to gambling,” he said, because “Bitcoin is not a currency” and “a very volatile commodity in terms of price.”
Bailey was the deputy governor of the Bank of England from April 2013 to July 2016. Recently, he was appointed as governor of the Central Bank and will begin his term on 16 March. 2020.
“If you want to invest in Bitcoin, be mentally prepared to lose all of your money – that would be my serious warning,” he told the BBC at the time.
In a speech on Wednesday before the UK Parliament, Bailey reiterated her previous views.
“There is no guarantee of the value of Bitcoin,” he stated, according to one video published on Twitter. “I made a public statement because we were concerned about that – if you want to buy Bitcoin, be ready to lose all your money. If you want to buy it, fine, but understand that what you hold has no intrinsic value. It may have external validity, but no intrinsic value. ”
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