Riksbank: Cryptocurrencies should be regarded as a form of asset, not as money

The Swedish central bank, Riksbank, published an economic report on the cryptocurrencies, with the key headlines found below.

“Cryptocurrencies should be regarded as a form of asset, not as money.

Cryptocurrencies such as Bitcoin are not tied to any goods with a market value and that they are not issued by a national state.

Cryptocurrencies are also unable to satisfy the 'functionalism' theory - in that they are not primarily used as a means of payment, in which they point out Bitcoin in particular with that regard.

Bitcoin has a high transaction fee and that prices have fluctuated by a fair degree.”