Norway has made great strides in its transition to a cashless economy, but even now, the country’s central bank does not see bitcoin as an alternative to fiat money.
Norwegian Bank Governor Oystein Olsen emphasized that bitcoin has too many problems to replace traditional money. The official called it “unthinkable.”
“Bitcoin consumes too many resources, is too expensive and, most importantly, is too volatile. After all, the main task for the central bank and the state currency is to ensure the stability of the financial system, and this cannot be achieved with bitcoin, ”Olsen said in a telephone interview.
Interestingly, at the beginning of the month, one of the richest businessmen in Norway, billionaire Kjell Inge Rokke, spoke out in favor of cryptocurrency. According to him, history will show that bitcoin was “on the right side”, and its price could reach millions of dollars. He even launched a small startup Seetee to invest in the first cryptocurrency.
“The people who know more about Bitcoin are talking about its almost inevitable success,” Rocke said.
In November last year, the deputy governor of the Central Bank of Norway, Ida Wolden Bache, said that the department does not yet see a serious need to develop a state digital currency.
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