The finance minister of Norway believes that bitcoin may experience “breakthroughs.” He noted that “There is no doubt that there is great interest in cryptocurrency both in Norway and internationally.”
Bitcoin May See Breakthroughs, Says Finance Minister of Norway
The finance minister of Norway, Jan Tore Sanner, suggested in an interview last week that “cryptocurrencies will at some point move past the volatility for which they‘re currently known and experience a period of ’breakthroughs,'” Bloomberg reported. He was quoted as saying:
“It is clear that there may be a development over time, whereby you will be able to get more stabilization mechanisms in the currencies that can lead to greater breakthroughs and upheavals in the slightly longer term.”
However, he noted that for the time being, cryptocurrency is not a market he would recommend consumers to enter.
The finance minister added that he does not believe crypto assets will go mainstream until they are properly regulated, mentioning that cryptocurrencies are also “popular with criminals.”
Nonetheless, Sanner said people should be free to make their own decision whether to invest in bitcoin but emphasized that the cryptocurrency is not yet ready to be used as a substitute for money. He opined:
“There is no doubt that there is great interest in cryptocurrency both in Norway and internationally. But so far it has been unsuitable as a means of payment.”