World NewsAustralia News

RBA Governor Says Bitcoin ‘Not a Store of Value’ or Viable Future Payment System

RBA Governor Michele Bullock said she did not see how Bitcoin could play an important role in Australia’s payment system and economy.
Save
RBA Governor Says Bitcoin ‘Not a Store of Value’ or Viable Future Payment System
A photo illustration of Bitcoin is seen at consensus, the flagship event of Coindesk and the data platform for the global crypto economy, at the Convention and Exhibition Centre in Hong Kong on February 19, 2025, the first time consensus is being held outside of the US in five years. (Photo by Peter PARKS / AFP) Photo by PETER PARKS/AFP via Getty Images
Alfred Bui
Updated:

Reserve Bank of Australia (RBA) Governor Michele Bullock has rejected the idea of establishing Bitcoin as a strategic reserve.

During a recent parliamentary inquiry hearing, the governor she said Bitcoin could not play the role of a back-up.

Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].