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The head of the Irish central bank, Governor Gabriel Makhlouf, commented this week comparing digital currencies like BTC with gambling describing them as nothing more than Ponzi schemes.
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Makhlouf has been the most recent in a long line of bankers from central banks who've voiced concerns about the risk of digital currency.
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He advised those who make bets on them to be wiped out and echoed the advice from the Governor of the Bank of England, Andrew Bailey, in 2021.
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“If you put your money into unbacked crypto, you need to be prepared to lose all of it,” Makhlouf said.
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The head of the central bank targeted specifically youngsters in Ireland in a call for actions to be taken to ban them, if it is possible.
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In the aftermath of the FTX collapse, which brought a devastating 2022 to a short final.
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