Bitcoin (BTC) gets its best “publicity” again when another major central bank comes up with the idea of ​​charging people to save money.

The Bank of England (BoE) was the last central bank to discuss negative interest rates, Bloomberg reports, citing Thursday’s minutes.

Negative prices “paid in bitcoin”
As a result of the meeting, the Bank of England will start negotiations with bank regulators on negative interest rates, which really means credit institutions, and therefore depositors will have to pay to keep cash.

The reason is how the closure of the coronavirus has affected the economy, as well as the threatening possibility of a British exit from the EU, an agreement or a disagreement.

“The bank leaves all options on the table due to growing uncertainty,” an analyst told the publication in light of the news.

The British pound fell against its main currencies on Thursday when politicians also confirmed that they voted to keep the interest rate at 0.1% for now.

Bitcoin spokesmen immediately took on the problems of the Bank of England, claiming that such a policy only undermined the reputation and position of the fiat currency.

“Wow, the Bank of England is discussing negative interest rates. Tyler Winklewos tweeted: “If they accept this, they will pay you a loan.”

“You can not buy the best bitcoin ad, but you can take their money and buy bitcoin.”

Experienced trader Ton Weiss had the same ideas.

“I do not think any bank will pay you to get a loan, but they will charge you for keeping / saving your money in the bank. What more can the inventor of bitcoin do! “He said in response to Winklevoss.

“Thanks to the Bank of England, you will help increase BTC USD adoption.”

Banking, rescue and bitcoin
Others have adopted the target in a temporary interest rate decision.

“One of the highest prices in our society is set by voting,” Christopher Bendixon, head of research at Coinshares, an investment strategist for digital assets, said on Twitter.

“You read everything correctly. In 2020, 8 middle-aged men and one woman will meet several times a year to set the loan rate. It will seem incredibly outdated for our grandchildren. ”

As reported by the Cointelegraph, the Bank of England is particularly notorious in Bitcoin circles when the British government massively rescued the banking sector on the eve of the birth of Bitcoin in 2009. An article from the national newspaper The Times was included in Bitcoin. Genesis Ban.

Recently, the central banks’ reaction to Coronavirus has given rise to the idea that Bitcoin will increasingly function as a defense against claims.

This week, the US Federal Reserve sent inquiries about plans to exceed inflation targets – a process that will weaken the US dollar and provide potential additional support for safe havens such as gold and bitcoin.

The Bank of England, for its part, said that negative interest rates would “hurt” the British economy at the end of last month.

The European Central Bank, or the European Central Bank, has been driving negative interest rates since 2016, but such a move would be a historic precedent for the United Kingdom.

Source: CoinTelegraph

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