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The head of the bank, Li Zhu Yel, said that cryptocurrencies will not be able to escape from high volatility. And the main reason is that they have no intrinsic value.
He also believes that the rally in bitcoin quotes is a temporary effect caused by the interest in the main digital coin from large investors. This means that fluctuations in the quotations of crypto assets will continue, and high volatility will not allow digital coins to become a full-fledged payment instrument.
Li Zhu Yel concluded that investing in large companies (such as Tesla) is just a way to spread the risks, and using the coin as an alternative to gold.
