{"id":49220,"date":"2021-09-10T13:43:25","date_gmt":"2021-09-10T10:43:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49220"},"modified":"2025-09-02T11:33:07","modified_gmt":"2025-09-02T08:33:07","slug":"mexicos-central-bank-chief-says-bitcoin-is-a-barter-instrument","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mexicos-central-bank-chief-says-bitcoin-is-a-barter-instrument\/","title":{"rendered":"Mexico&#8217;s central bank chief says bitcoin is a barter instrument"},"content":{"rendered":"<p>Bitcoin is more like a barter instrument, the use of which is associated with high risk, than \u201cevolved\u201d money. This was stated by Mexico&#8217;s central bank governor Alejandro D\u00edaz de Le\u00f3n, according to <a href=\"https:\/\/www.reuters.com\/technology\/bitcoin-is-barter-not-money-mexico-central-bank-chief-says-2021-09-09\/\">Reuters<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWhen someone receives bitcoin in exchange for a good or service, we consider that [transaction] more akin to barter. A person exchanges a good for a good, but not for money. The latter in our time are fiat currencies issued by central banks. Bitcoin is more like a precious metal than a legitimate means of payment for everyday transactions,\u201d he explained.<\/p>\n<\/blockquote>\n<p>According to D\u00edaz de Le\u00f3n, for cryptocurrencies to be recognised as money, the asset class must become a reliable means of payment. They must also serve as a store of value, though this is hindered by price volatility.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cPeople do not want their purchasing power, their salaries, to rise or fall day by day by 10%. You do not want to see such volatility in purchasing power. In this sense he [bitcoin] is not a reliable store of value,\u201d the official stressed.<\/p>\n<\/blockquote>\n<p>At a recent conference, Sweden&#8217;s central bank governor Stefan Ingves compared buying and selling bitcoin to the trading of marks, casting doubt on the viability of currencies lacking state backing.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cUsually private money collapses sooner or later,\u201d Bloomberg quotes Ingves.<\/p>\n<\/blockquote>\n<p>Earlier in August, the president of the Central Bank of Brazil Roberto Campos Neto <a href=\"https:\/\/forklog.com\/en\/news\/brazilian-central-bank-backs-crypto-regulation\">expressed support for regulating cryptocurrencies<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is more like a barter instrument, whose use carries high risk, than \u201cevolved\u201d money. This was stated by Mexico&#8217;s central bank governor Alejandro D\u00edaz de Le\u00f3n, according to Reuters.<\/p>\n","protected":false},"author":1,"featured_media":49221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,809,1819,1507],"class_list":["post-49220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-central-banks","tag-mexico","tag-sweden"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/49220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=49220"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/49220\/revisions"}],"predecessor-version":[{"id":49222,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/49220\/revisions\/49222"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/49221"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=49220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=49220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=49220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}