Bitcoin is likely to stabilize and enter a breakthrough phase in the longer term, the finance minister of Norway said in a Bloomberg report.
- Jan Tore Sanner believes developments could bring about more stabilization mechanisms that can lead to greater breakthroughs in the slightly longer term.
- With the volatility hounding the market, Sanner said it is not a space he would recommend consumers to invest for now.
- The finance minister said crypto assets are unlikely to go mainstream without proper regulation, and for now are “popular with criminals.”
- Sanner said the public should decide for themselves whether to invest in Bitcoin, noting it is not yet ready to serve as a fiat institute.
- The official said there is great interest in cryptocurrency both in Norway and internationally but has yet to be a suitable mode of payment.
- Norway central bank Governor Oystein Olsen is wary of Bitcoin, but its industrial heartland serves as home to several enthusiasts of the digital token.
BTC/USD is up 5.32%.
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