Kristalina Georgieva of the International Monetary Fund doubled down on her criticism of Bitcoin
During a virtual event organized by Italy’s Bocconi University, Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), said that Bitcoin is completely unrecognizable, Reuters reports.
Georgieva states that cryptocurrencies like Bitcoin are too volatile to take on this role:
In the history of money, it is difficult to consider it money.
In July, Georgieva predicted that bitcoin would remain the world’s reserve currency.
As reported by U.Today, economists at the International Monetary Fund identified a wide range of risks associated with the proliferation of cryptocurrencies in a recent publication.
Georgieva, who has held the presidency of the International Monetary Fund since 2019, is currently facing a major scandal linked to allegations of data fraud.
During her tenure as CEO of the World Bank, the influential Bulgarian economist reportedly urged her staff to fabricate data in order to improve China’s rating. Georgieva strongly denies these accusations.