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RE-TRANSMISSION: Netcoins.ca Reacts to Bank of England Governor Andrew Bailey Scare Tactics over Bitcoin
VANCOUVER, BC / ACCESSWIRE / May 21, 2021 / Netcoins.ca , a subsidiary of BIGG Digital Asse...
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[{"type":"text","content":"RE-TRANSMISSION: Netcoins.ca Reacts to Bank of England Governor Andrew Bailey Scare Tactics over BitcoinVANCOUVER, BC / ACCESSWIRE / May 21, 2021 / Netcoins.ca, a subsidiary of BIGG Digital Assets (CSE:BIGG)(OTCQX:BBKCF), reacted to a recent announcement by a Governor of the Bank of England that Bitcoin assets \"have no intrinsic value.\" According to this CNBC article, Bank of England Governor Andrew Bailey stated that investors in the various digital currencies should only \"Buy them only if you're prepared to lose all your money.\" Netcoins disagrees strongly with this statement, and believes the future of crypto is a safe, compliant and regulated environment. While any investment involves risk, and the bitcoin market may seem volatile at times, Netcoins.ca has programs in place to make the process transparent and less intimidating than other investments. One of these efforts involves educating users with their \"How to Buy Bitcoin\" initiative that uses plain language to explain the process, risks, and safeguards. Netcoins.ca is also a publicly traded company, trading under BIGG Digital Assets. Being public offers an extra layer of safety and transparency to their users. They also offer the Crypto Academy, an online learning course that offers users the answers to the most frequently asked questions about digital currency investing. Finally, Netcoins is government regulated as a registered MSB by FINTRAC, an entity of the Federal Government of Canada.The CNBC article does offer the other side of the story, stating that: \"Proponents of bitcoin see it as a store of value akin to gold because of its scarce supply - only 21 million bitcoins can ever be minted - arguing that the cryptocurrency can act as a hedge against inflation as central banks around the world print money to relieve coronavirus-battered economies.\"Netcoins.ca President Mitchell Demeter responded to Mr. Bailey's comments, \"Despite Andrew Bailey's continued warnings, the market is communicating a very different message. It's not unexpected for central bankers like Bailey to attempt to discredit Bitcoin and other digital assets, as they continue to print trillions of dollars and debase their national currencies. As inflation continues to grow, people are searching for options to retain their purchasing power. This has historically been gold, but people are lea...