Bitcoin Hits All-Time High
Bitcoin, the leading cryptocurrency, has surged to a new record high, surpassing $70,000 for the first time and reaching a peak of around $71,300,
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Bitcoin is not at a size where it would pose a risk to the global economy, Bank of England Deputy Governor Jon Cunliffe said on Wednesday, as the virtual currency soared to a record high above $10,000 on major exchange, reported Reuters.
The cryptocurrency has climbed 10-fold so far this year, the largest gain of all asset classes and prompting skeptics to warn it is a classic speculative bubble.
“I would just say investors kind of need to do their homework,” Cunliffe told BBC Radio.
He said he did not think British households as a whole were going on a “debt-fueled binge” but added that fast rates of consumer credit growth needed to be watched.
Cunliffe was in the minority of officials to vote against a rise in interest rates that took place earlier this month.
Asked why in a separate BBC radio interview, Cunliffe said that although he agreed with his colleagues that Britain’s potential rate of economic growth had slowed since the financial crisis, he wanted to see more sign of inflation pressure.
“My view was given the disappointments we’ve had about pay increases and domestic cost pressures over recent years, we should wait to see those before raising rates.”
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
During debates on a draft decision concerning the Bulgarian Energy Holding, Minister of Finance Asen Vassilev announced that Bulgaria is on the brink of entering the Eurozone as it meets the inflation criterion
In order to protect the economic interests of consumers, there will be a period of double labeling of the prices of goods and services - in leva and in euros
As Bulgaria inches closer to joining the Eurozone, concerns arise over the implementation of rounded prices in euros, potentially impacting citizens' wallets upon adoption of the single currency
On a briefing held at the National Press Club of BTA, Nikola Ilchev, the creator and organizer of the Balkan eCommerce Summit, showed projections indicating a significant rise in Bulgaria's e-commerce sector
The Ministry of Finance in Bulgaria has revealed that the process to facilitate the exchange of levs with euros in the country will come with a hefty price tag, estimated to be at least BGN 500 million
As Bulgaria steers towards adopting the euro, economists dispel concerns over potential price increases, assuring the public that the impact on inflation will be minimal
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022