Cryptocurrency fuels irrational exuberance: Bank of Korea
Bank of Korea Governor Lee Ju-yeol has said there is 'irrational exuberance' in trading of virtual currencies like Bitcoin, which have risen dramatically in value this year amid frenzied speculation. Lee reiterated that the Bank of Korea does not regard cryptocurrencies as a valid medium of payments. The price of Bitcoin fell by almost 20% to $15,800 this week.