Lee Ju-yeol "Bitcoin, an Asset with No Inherent Value by Nature... High Volatility Expected"

[Image source=Yonhap News]

[Asia Economy Reporter Eunbyeol Kim] Regarding Bitcoin, which recently surged past $50,000 per coin, Lee Ju-yeol, Governor of the Bank of Korea, described it on the 23rd as an "asset inherently without intrinsic value."

On the 23rd, during a briefing to the National Assembly's Planning and Finance Committee, in response to a question from Yang Hyang-ja, a member of the Democratic Party of Korea, about the recent sharp rise in Bitcoin prices, Governor Lee stated, "The surge in Bitcoin prices was influenced by a combination of factors including its use as an inflation hedge, Tesla CEO Elon Musk's acceptance of Bitcoin as a payment method and large-scale purchases, and some financial institutions starting Bitcoin trading brokerage services."

He added, "While it is difficult to comment on the value level of Bitcoin assets themselves, it is an asset inherently without intrinsic value," and "It is expected to exhibit high price volatility."

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