The chairman of the Russian central bank, Elvira Nabiullina, compared cryptocurrencies to a game in a casino and stated that their popularity was similar to tulip fever in the 17th century Holland. The head of the Central Bank said this during a meeting with participants in the youth program FINOdays, write RIA Novosti.
Nabiullina noted that the regulator is studying cryptocurrencies, since they have become a “mass phenomenon”.
“We see that many have invested in cryptocurrency – those who want to make money very quickly and easily. But there is worldly wisdom that free cheese is only in a mousetrap: easily earned money quickly leaves. It’s your choice, here the state does not protect your investments in cryptocurrencies in contrast to investments in banks, ”the head of the Central Bank said.
Nabiullina especially emphasized the volatility of digital assets:
“Bitcoin, many cryptocurrencies have not ended, but if you look at how the cryptocurrency rate is moving, these are such a swing. People who entered cryptocurrency at the peak of value have now lost a lot. ”
She also agrees with the opinion of some financiers comparing the popularity of cryptocurrencies with “tulip mania.”
“Probably everyone knows from history when tulip bulbs stood like huge houses in the best part of Amsterdam, and how it all ended, ” Nabiullina emphasized.
Recall that earlier the head of the Bank of Russia stated that it was impossible to really appreciate the advantages of crypto ruble.
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