The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

Bitcoin is barter not money Bank of Mexico governor believes

2 min reading

Mexico's central bank chief stated on Thursday that Bitcoin is more equivalent to barter than "evolved" fiat money.

Bitcoin is somewhat like a barter instead of “evolved” fiat money, Mexico’s central back chief said on Thursday. He believes it to be a high-risk investment and a poor store of value. Alejandro Diaz de Leon governor of Bank of Mexico means that Mexico won’t be following El Salvador’s mistake in the future. 

“Whoever receives Bitcoin in exchange for a good or service, we believe that (transaction) is more akin to bartering because that person is exchanging a good for a good, but not really money for a good,” said Diaz de Leon. “In our times, money has evolved to be fiat money issued by central banks,” he said. “Bitcoin is more like a dimension of precious metals than daily legal tender.” Diaz de Leon stated that the value of cryptocurrencies has gone up in its past days.

“People will not want their purchasing power, their salary to go up or down 10 percent from one day to another. You don’t want that volatility for purchasing power. In that sense, it is not a good safeguard of value,” he said. This adoption of Bitcoin earlier this week as legal tender by El Salvador has been the beginning of all problems that have created a pathway to the value of the digital currency globally. 

Bitcoin has always been volatile. During April, it increased up to $64,000 and went down as low as $30,000 in May. 

Currency Exchange rate Buy cryptocurrency

The new DEFI platform enters the market! Earn passively - token sale 0.25 $

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.