- The International Monetary Fund (IMF) Chair has reminded crypto investors amid recent developments.
- Kristalina Georgieva asserted that the asset class is an investment.
- The IMF Director argued about crypto’s long-term potential.
The surging popularity of the cryptocurrency industry has often drawn evaluation from prominent figures in the global financial sector, ranging from commendations to critiques.
Joining the ranks is the International Monetary Fund’s (IMF) managing director, providing insights on the current state of the asset class and its enduring potential.
Crypto is “Not Exactly Money”
According to a Yahoo Finance report on Monday, January 15, IMF Director Kristalina Georgieva has underscored the differences between traditional money and cryptocurrency assets.
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Director Georgieva characterized crypto as an “investment vehicle” with no exact comparison to money, highlighting the varying levels of security and risk associated with the asset class.
Our view is that we have to differentiate between money and assets. When we talk about crypto, we are actually talking about an asset class. It could be backed up and in that sense, more secure and less risky, or it could be not backed up and therefore a riskier investment. But it is not exactly money. It's more like a money management fund," she stated in her interview with Yahoo Finance.
Furthermore, Georgieva deliberated on crypto’s potential to rival the U.S. dollar, highlighting the current dominance of the dollar in the size of the U.S. economy and the depth of its capital markets
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