Davies: Bitcoin is the Alternative Yield

www.bloomberg.com

Bitcoin is a system of interest in alternative payment mechanisms says Sir Howard Davies, Chairman at Royal Bank of Scotland. He told Bloomberg Daybreak Europe’s Guy Johnson and Matt Miller that bitcoin remains a highly speculative venture which the banking system must respond to. He added that the recent surge is ascribable to the wealth of liquity provided by Central Banks which in turn has driven investors to alternative sources in search of higher yields.

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