FX.co ★ Bank of Sweden questions the viability of Bitcoin

Riksbank Governor Stefan Ingves recently questioned the staying power of currencies that don't have the backing of governments.

He said private investment usually collapses sooner or later, so even though investors can get rich trading bitcoins, it is comparable to "trading in stamps."

And although the largest cryptocurrency has garnered support from people like Elon Musk and Katie Wood, some central bankers have compared it to a 17th century tulip bubble that ended in collapse.

Earlier, Ingves said that Bitcoin and other cryptocurrencies are unlikely to spiral out of regulatory control as their popularity grows.

But LinkedIn co-founder and Greylock Partners partner Reid Hoffman said cryptocurrencies have a real role to play in "helping us grow."

Bitcoin did not react to these statements and continued to increase by 0.5% to $ 46,000 on Thursday. Meanwhile, Ethereum fell by 1.45%.