Off The Wire
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)