The crypto-currency market is double the size of the sub-prime debt in the U.S. on the eve of the financial crisis...
and poses a threat unless urgently regulated, the Bank of England said.
Crypto assets are now worth $2.3 trillion, about 200% more than at the start of the year. While that’s still a small part of the $250 trillion global financial system, it’s about twice the size of the $1.2 trillion sub-prime real estate debt market in 2008.
Jemima Kelly, Cryptocurrencies and all that (Bitcoins, Tulips, South Sea Company)
https://englundmacro.blogspot.com/2021/05/jemima-kelly-cryptocurrencies-and-all.html
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