The head of the Bank of England, Mark Carney, believes that to this day, bitcoin has not been able to prove that it is a full currency in the conventional sense of the word, since it can not effectively perform the function of either a means of accumulation or a means of exchange.
During the speech at a closed event at the London University of Regents, the head of the central bank told students that bitcoin does not meet two basic criteria, without which it can not be called a currency.
It has pretty much failed thus far on... the traditional aspects of money. It is not a store of value because it is all over the map. Nobody uses it as a medium of exchange. A currency has to be a widely used medium of exchange. Cryptocurrencies are never going to achieve that. Period.
Governor, Bank of England
Carney's comments will hardly surprise anyone, as they almost repeat the statements of other representatives of central banks and various figures from Wall Street almost word for word.