IMF says Bitcoin crash hasn’t harmed global financial stability
In its ‘World Economic Outlook Update: Gloomy and More Uncertain’ report published today, the IMF acknowledged that the crypto market has experienced a “dramatic” sell-off—but added that it hasn’t yet hurt the financial system.
As investors face uncertainty with Russia’s war in Ukraine and supply chain issues—among other macroeconomic factors—they are shifting “risky” assets. Bitcoin and digital currencies are deemed risky—along with equities.