Bitcoin has received an unexpected boost from Christine Lagarde, after the head of the International Monetary Fund (IMF) detailed the global benefits of cryptocurrency.
Ms Lagarde wrote in a blogpost that cryptocurrencies like bitcoin could enable fast and inexpensive transactions, while the underlying blockchain technology could make financial markets safer.
The price of the wold’s most valuable cryptocurrency returned above $8,000 following the publication of Ms Lagarde’s comments, though it is unclear if the gains are directly attributable to the news.
“Just as a few technologies that emerged from the dot-com era have transformed our lives, the crypto assets that survive could have a significant impact on how we save, invest and pay our bills,” Ms Lagarde wrote in the blogpost.
Ms Lagarde reiterated comments she made to the Bank of England last year that called for an even-handed approach to regulation, with the hope exploiting the benefits while simultaneously minimising the risks.
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