The most memorable comments on the cryptocurrency from senior figures in world finance
•ECB official backs bitcoin clampdown
Bitcoin’s gyrations have attracted a lot of attention over the past year. Here are some of the most memorable comments from senior figures in world finance.
Yves Mersch joins growing list of experts calling for restrictions on cryptocurrencies
• What the experts have said about bitcoin
A top European Central Bank policymaker has joined calls for a global clampdown on virtual currencies such as bitcoin because of their threat to financial stability.
Yves Mersch, a member of the ECB’s executive board, said the central bank shared the views voiced by Agustín Carstens, the head of the Bank for International Settlements, who on Monday condemned bitcoin as “a combination of a bubble, a Ponzi scheme and an environmental disaster”.
US investigation into boom stokes fears of impending bust as cryptocurrency records steepest monthly slide in its history
Bitcoin plummeted in value by more than $44bn (£30.9bn) in January, marking the steepest monthly fall in its short history.
The slide extended further on Thursday after the Indian government said it would ban all cryptocurrency trading and Facebook announced a ban on digital currency adverts. Bitcoin fell by more than 10%, dropping below $9,000, marking a sharp reverse from its peak of almost $20,000 just before Christmas.
Despite losing 40% in a matter of weeks the cryptocurrency still has further to drop according to experts at Capital Economics
Bitcoin has all the hallmarks of a classic speculative bubble and even after almost halving in value in a matter of weeks it still has further to fall, according to a leading team of economists.
As regulators in South Korea again signalled on Thursday that they were considering a ban on cryptocurrency exchanges, Capital Economics also dismissed claims that bitcoin and its imitators could replace established currencies as “rubbish”.
Ripple, also known as XRP, peaks at more than $100bn and surpasses Ethereum to become second most valuable cryptocurrency after bitcoin
If 2017 was the year of bitcoin, the pioneering cryptocurrency that neared $20,000 in December, will 2018 be the year of Ripple?
Related: From the future of bitcoin to Facebook, 2018 in technology
A stock market boom, a bitcoin bubble, trade indices at recent highs, a low fear factor, even eurozone GDP is rising. But 2017 hasn’t been all good
• The most-read business stories of 2017