RBA Official Predicts Bitcoin Will Struggle in Australia

A senior official at the Reserve Bank of Australia (RBA) has speculated that Bitcoin is unlikely to succeed in Australia because they already have a successful currency. The official compared the volatility of cryptocurrencies to stable fiat alternatives and cast doubt on Bitcoin as a store of value.
Bitcoin Is Too Volatile
RBA head of payments policy, Dr Tony Richards, said that although digital currencies could have practical applications, Bitcoin is unlikely to succeed in a country that alrea