Growth of crypto poses risks to investors, financial stability — Bank of Italy

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Growth of crypto poses risks to investors, financial stability — Bank of Italy - Coin Telegraph

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Source: Bank of ItalyThe Bank of Italy’s report also addressed the trend of non-financial corporations holding Bitcoin, stating that it exposes them to “marked price volatility” driven by “the belief that Bitcoin can support their share prices.”Strategy (formerly MicroStrategy) helped popularize the corporate purchase of Bitcoin, beginning its acquisitions in August 2020.

The strong growth of Bitcoin and of other crypto-assets with high price volatility means risks not only for investors but also potentially for financial stability, given the growing interconnections between the digital asset ecosystem, the traditional financial sector and the real economy,” the report notes.

According to the report, disruptions in either the stablecoins or the underlying bonds could have “repercussions for other parts of the global financial system.”The report comes just a few days after Giancarlo Giorgetti, the country’s minister of economy and finance, warned that the appeal of US dollar stablecoins should not be underestimated.