The cryptocurrency sphere is now wondering about the future of Bitcoin as France and Germany are rooting for, Mark Carney, the Governor of Bank of England to become the next head of the International Monetary Fund (IMF).
Carney is expected to join IMF as a replacement for Christine Lagarde, the former head of IMF and a staunch advocate of the cryptocurrency principles.
The report has been released by Frankfurter Allgemeine Zeitung that unlike Christine Lagarde, Mark Carney is not a supporter of cryptocurrency. He prefers fiat over the virtual currency of the new world. His remarks against Bitcoin (BTC) and Libra have been found to be proof enough.
The future of Bitcoin under Mark Carney lead IMF
Christine Lagarde could be heading the European Central Bank (ECB) as a replacement for Mario Draghi. Countries, several of them, are in favor of the former IMF head being the ECB head, and the hype about how things will be run is over the hill.
Christine Lagarde has been very open about cryptocurrencies and potentially how they will be revolutionizing the world. Her concerns over how these virtual coins affect the economy have led her to write an article titled “Winds of Change: The Case for New Digital Currency.”
Her concerns over the matter were evident in an interview with CNBC, where she stated that, although the new advancements are shaking the system, we don’t want it to be shaken to the extent when things start to crumble. The economy to stay strong, is what all this work has been towards.
Currently, David Lipton is the leading the global monetary organization IMF as the head. France and Germany’s unwavering support for Mark Carney will be enough to put Carney on the throne or not, is what needs to be seen.
Carney is against all digital currencies and views them as a bubble that’s volatile and not fit to be used as a medium of exchange, ever.
Being the head of the IMF, Mark Carney will be running things differently than Christine Lagarde even if he says that he’s “open doors” and ready to welcome the crypto revolution. Mrs. Legarde has shown herself to be more open towards the Digital Ledger Technology (DLT).
To answer what exactly would happen to Bitcoin may not be fair but to understand that authorities would further clamp down the Bitcoin is the least expected outcome of Carney’s IMF posting.