A question on Bitcoin reaches us from Italy, and here Italo would like to know: “If you were a young university
student like me, would you buy some Bitcoin and keep it for safety?” Well,
it’s not up to me to tell Italo what he should do. But frankly, I
would think it carefully. You know, a euro today is a euro tomorrow. Its value is
stable. The value of Bitcoin oscillates wildly. Of all things, I would not call
Bitcoin a currency for this reason, but also for for another reason. The euro is
backed by the European Central Bank. The dollar is backed by the Federal Reserve. Currencies are backed by the central banks or their governments. Nobody backs Bitcoin. And by the way, I’ve also seen that many of you posted questions about whether the ECB is going to ban bitcoins or it’s going to regulate bitcoins. I have to say, it’s not the ECB’s responsibility to do that.