The Norwegian finance minister believes Bitcoin could see “breakthroughs”. He stated, “There is no doubt that there is great interest in cryptocurrency both in Norway and internationally.”
Bitcoin could see breakthroughs, says the Norwegian finance minister
Norwegian Finance Minister Jan Tore Sanner suggested in an interview last week that “cryptocurrencies will eventually overcome the volatility for which they are currently known and experience a phase of“ breakthroughs ”,” reported Bloomberg. He was quoted as saying:
It is clear that over time there may be a development that allows you to get more stabilization mechanisms in the currencies that can lead to bigger breakouts and breaks in the somewhat longer term.
However, he noted that cryptocurrencies are not currently a market that he would recommend to consumers.
The Treasury Secretary added that he does not believe crypto assets will go mainstream until they are properly regulated and mentioned that cryptocurrencies are also “popular with criminals”.
Nonetheless, Sanner said people should be free to make their own decision about whether to invest in Bitcoin, but stressed that the cryptocurrency is not yet ready to be used as a money substitute. He mean:
There is no doubt that there is great interest in cryptocurrency both in Norway and internationally. However, it was previously unsuitable as a means of payment.
Bitcoin News recently reported that some Norwegian billionaires have stepped into the crypto space. These include Ole Andreas Halvorsen, Øystein Stray Spetalen and Kjell Inge Røkke.
What do you think of the statements made by the Norwegian Finance Minister? Let us know in the comment section below.
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