IMF Issues New Crypto Asset Warning

The International Monetary Fund (IMF) sent out a warning, telling us that using crypto assets as national currency would be “a step too far.” Personally, I think a step too far is the existence of an unaccountable, global body that imposes an unsustainable monetary system on the entire word, but that’s just me. Leaving that aside, let’s look at the IMF’s arguments and see if they hold any weight.

Don’t Fear Short-Term Volatility

The IMF begins by warning us that crypto assets are extremely volatile, as if we didn’t know that. The IMF said that bitcoin, “reached a peak of $65,000 in April, but then crashed to less than half that value just two months later.” So yes, it’s volatile.

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