Bubble or breakthrough? Bitcoin keeps central bankers on edge

With bitcoin smashing through the US$8,000 (RM32,940) level for the first time this week after a 50% climb in eight days, they are also worried they will be blamed if the market crashes.

FRANKFURT: Central bankers say the success of bitcoin and other cryptocurrencies is just a bubble.

But it keeps them awake at night because these private currencies threaten their control of the banking system and money supply, which could undermine the monetary policies they use to manage inflation.