Norway’s finance minister, Jan Tore Sanner, said to believe that Bitcoin can experience “breakthroughs” as he acknowledged the massive interest in the top cryptocurrency both in Norway and across the globe.
In an interview last week, Sanner, said that cryptocurrencies will at some point move past the volatility for which they are currently known and experience a period of breakthroughs:
“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 further said that he does not believe crypto assets will go mainstream until they are properly regulated. For the time being, Sanner noted that he would not recommend consumers to enter the cryptocurrency market yet.
Nonetheless, Sanner said that ultimately consumers decide. They should be free to make their own decision whether to invest in Bitcoin and other cryptocurrencies. In his view however, cryptocurrency is not yet ready to be utilized as a substitute for money:
“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.”
He also mentioned that cryptocurrencies are “popular with criminals,” a card that government officials still like to play, thereby eagerly forgetting the role that fiat currency plays.
Three months ago, Norwegian company Aker ASA announced to invest nearly $58 million (500 million Norwegian kroner) in bitcoin and blockchain technology.
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