Abstract:

Bitcoin, along with other cryptocurrencies, is a financial but also a social phenomenon, which is subject to interest of specialists in many areas as well as ordinary people. For many it is just an opportunity to earn returns of many hundreds per cent in a short time, for others an alternative mean of payment or even the future of money. Bitcoin is usually regarded as a risky asset and a subject of warnings issued by financial supervision entities. This paper looks at Bitcoin from the central bank’s perspective. Taking into consideration central bank’s goals and functions, possible consequences of Bitcoin usage are discussed. The increasing popularity of cryptocurrencies and their rising prices are a kind of a challenge to several state agencies, including monetary authority.