Crypto News

Crypto Is Not Popular As People Think: Australian Central Bank Head


The head of the central bank of Australia shared his take on the crypto poll survey and said that these surveys are not including people who have no internet connection and don’t know about it. 

Tony Richards, the head of payments at the Reserve Bank Of Australia (RBA) shared his stance on crypto adoption, which is increasing according to poll survey results. 

According to Tony, all the surveys are right at their place and show huge rapid adoption of crypto but in actuality, these surveys do not include those people who are older and have no internet connectivity. 

In particular, Tony pointed out the latest survey which claimed that 5% of the Aussie hold meme coins ( Dogecoin). According to Tony, there is no doubt that Dogecoin touched many hearts and hitted a very high volume in terms of trading globally but adoption is not at that level where people are thinking. 

Crypto vs Australian Dollar

Tony shared his take on questions of the crypto threat on the Australian dollar or fiat currencies. According to Tony, the Australian dollar has no threat because of Crypto adoption. And also don’t think that adoption of crypto will not expand much in the form of payment purposes. 

“can’t see shops posting their prices in cryptocurrencies or companies doing their annual reports in cryptocurrencies or lots of people wanting to get paid in cryptocurrencies”.

Also, he believes that in the future people will become more aware of the risk associated with the volatility and negative use cases of Crypto. 

It is worth noting, Tony created a crypto wallet back in 2014 to get a job in the new payment option industry but at present, he is not inclined to crypto, which is an indication that he has success in the non-crypto field. 

Read also: Indian prime minister says democratic nations work together to regulate crypto



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