November 29, 2017 / 6:11 AM / a year ago

Bitcoin not big enough to threaten world economy, BoE deputy says

LONDON, Nov 29 (Reuters) - Bank of England Deputy Governor Jon Cunliffe said bitcoin, which hit a record high above $10,000 earlier on Wednesday, is not at a size where it would pose a risk to the global economy.

Bitcoin has soared more than 900 percent so far this year, the largest gain of all asset classes and prompting sceptics to say it is a classic speculative bubble.

“I would just say investors kind of need to do their homework,” Cunliffe told BBC radio.

He said he did not think British households as a whole were going on a “debt-fuelled binge” but added that fast rates of consumer credit growth needed to be watched. (Reporting by Andy Bruce; Editing by Christian Schmollinger)

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