Bitcoin is too expensive and volatile, and these factors prevent its mass adoption. This point of view is shared by the governor of the Central Bank of Norway, Øystein Olsen.
In an interview with Bloomberg, the official stressed that in the future, BTC will still not be able to replace traditional cash. Even Norway, which is on the list of leaders in terms of the volume of non-cash payments, will not be able to completely abandon the use of cash.
Unlike bitcoin, central bank digital currencies will be much more convenient tools. This is a token pegged to the national currency.
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According to the head of the Norwegian Central Bank, the electronic crown, which the regulator is working on launching, will be a more attractive instrument in the country. It will be more accessible and cheaper. At the same time, BTC does not pose any threats to the financial sector, despite the fears of many countries, Øystein Olsen said.
The Norwegian authorities have recently promised to accelerate the development of the e-krona. Although the Central Bank planned to launch this tool back in 2018-2019.