Head of Danish central bank Lars Rohde said in an interview with state broadcaster DR that potential investors in bitcoin should steer clear of a dangerous gamble and not complain to financial regulators if things do go wrong.
I see bitcoin as tulipmania, which is a bubble that is out of control. It is not a regulated market. It is not the responsibility of the authorities. It is the responsibility of the individual. You should stay away from bitcoin. It is deadly.
Head of Danish central bank
The comments echoed concerns of a bubble about to burst made by other market participants and central bankers after the price of bitcoin rocketed more than 1,800% since the start of the year.
Last week, the Danish central bank said that introducing a digital version of the Danish crown currency would pose risks to financial stability without improving payment solutions for Danes.
Recently, we have reported that the Danish Foreign Ministry investigates how blockchain technology might solve problems in providing development aid.