Two central banks deny the possibility of Bitcoin as legal tender! Mexico: Not a currency, more like a precious metal; Sweden: No different from buying and selling stamps.

Following El Salvador's decision to adopt Bitcoin as legal tender, more countries are starting to consider whether cryptocurrencies can bring tangible benefits to their nations. The volatility, regulatory issues, and speculative nature of cryptocurrencies are all key points of discussion for countries. Recently, the central bank governors of Mexico and Sweden have both expressed their views on Bitcoin.

Opinion of the Governor of the Central Bank of Mexico

According to a report by Reuters, Alejandro Diaz de Leon, the Governor of the Central Bank of Mexico, stated on Thursday that:

"When someone trades a good or service for Bitcoin, we see it as more similar to bartering than a monetary transaction. It's like trading goods for goods, not money for goods."

From this statement, it is clear that in the short term, Mexico is unlikely to follow El Salvador in adopting Bitcoin as a legal tender, especially since Alejandro Diaz de Leon does not even consider Bitcoin as a currency. Alejandro Diaz de Leon further explained:

"In this day and age, money has evolved to be the legal tender issued by central banks, and looking at Bitcoin from the perspective of a precious metal might be more appropriate."

Although there are increasing numbers of countries or companies accepting Bitcoin as a form of payment, Alejandro Diaz de Leon still views Bitcoin as not sufficiently reliable. For it to become a widely used currency, its value fluctuations cannot be so drastic. Alejandro Diaz de Leon stated:

"People do not want their purchasing power and salaries to rise or fall by 10% in a day. No one wants such volatility in purchasing power. From this perspective, Bitcoin does not have a good value safeguarding function."

Opinion of the Governor of the Central Bank of Sweden

Meanwhile, Stefan Ingves, the Governor of the Central Bank of Sweden, also has some interesting views on Bitcoin. He compares Bitcoin to a postage stamp and questions whether Bitcoin can maintain its value in the long term without government support. Stefan Ingves said:

"The private money can sooner or later collapse. Of course, you can get rich by trading Bitcoin, but it's not much different from trading stamps."

Today, many central bank officials still view cryptocurrencies as too speculative and unreliable, believing that the bubble will eventually burst. However, it cannot be denied that Bitcoin has gained recognition from many corporate figures. Figures like Tesla CEO Elon Musk and Ark Investment Management CEO Cathie Wood acknowledge its investment value and hold it long term. With the continued growth of the cryptocurrency industry, which of these perspectives is right or wrong will naturally be revealed over time.