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Philip Lowe, governor of the Reserve Bank of Australia, doubts the future of bitcoin.   © Reuters
Economy

Central banker lashes bitcoin 'speculative mania'

Reserve Bank of Australia governor joins critics of modern 'tulip bubble'

KAORI TAKAHASHI, Nikkei staff writer | Australia, New Zealand, Pacific Islands

SYDNEY -- The global fascination with digital currencies such as bitcoin is a "speculative mania," Reserve Bank of Australia Gov. Philip Lowe said on Wednesday.

Speaking about the future of payments systems at the 2017 Australian Payment Summit in Sydney, Lowe said: "...In reality these currencies are not being commonly used for everyday payments and, as things currently stand, it is hard to see that changing."

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