Cryptocurrency will be 'quite valuable and quite useful' as it grows in popularity

Founder of the Switzer Report Peter Switzer says as cryptocurrency continues to grow in popularity, he thinks the central banks of the world will create more “digital coins, which will become more stable”.

Treasurer Josh Frydenberg has said he plans to protect consumers as cryptocurrency becomes more popular.

However, RBA Governor Philip Lowe recently warned Australians about investing in cryptocurrencies.

“They’ll be quite valuable and quite useful because when you use cryptocurrencies, it’s recorded on the blockchain,” Mr Switzer told Sky News host Chris Smith.

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10 Comments

  1. I've just read a report from a small oil-producer. It is considering using the reserves it has just tapped to fuel an on-site crypto-ming operation. It's tempting for the young, and the 'hip', to think that 'crypto' is a good thing: it isn't. Crypto-mining now consumes more electricity than Norway!

  2. Useful until you're unable to access them!!! Agenda 2030 in full flow!! Build Back Better Bollocks anyone??!!

  3. The economic hardship, recession, unemployment and the lost of job caused by COVID-19/OMICRON pandemic is enough to push people to financial ventures, investing in cryptocurrency now should be in every wise individual lost. In some Weeks now, you will be ecstatic about the decision you made today.

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