The head of the currency in Honduras published a message on the social network X, in which it recommends that the population adequately inform themselves to make founded decisions about cryptoactive.
In the publication, the Central Bank warns that projects such as Bitcoin can be very volatile, so it advises «not to risk more than one is willing to lose.» In addition, They make it clear that these initiatives do not support.
The message refers to a resolution implemented in February 2024, when the National Commission of Banks and Insurance (CNBS) prohibited all supervised entities to invest, possess or intermediate with cryptocurrencies, as well as with any other asset not issued by the Central Bank of Honduras.
In addition, the rejection of Honduran institutions is also reflected in the conflict with prosperous, an Employment and Economic Development Zone (Zede) on the island of Roatán, which Bitcoin adopted as legal tender in 2023. In October 2024, the local authorities closed the gates of the citadel, arguing the breaches of tax commitments.
Despite the warnings of the entity, it should be mentioned that, in the last 10 years, Lémppira has experienced a devaluation of 99.76% against Bitcoin, according to personal XE data. At the time of writing this article, 1 Lémppira is equivalent to 0.000000459 BTC.
This collapse of value raises a significant risk for Hondurans who decide to bet on their national currency. Compared, Bitcoin has proven to be more resistant to inflation and the depreciation of fíat money.
Cryptocurrencies are indeed a high -risk investment. Nevertheless, It is important to differentiate between Bitcoin and the rest of the digital assets.
Many cryptoactives have lost a huge percentage of their value over time, and others, although they have risen in terms of dollars, have been well below the creation of Satoshi Nakamoto. A clear example of this is XRP, Ripple cryptocurrency. Although it is going through what some would consider good times if their price is measured in dollars, in front of Bitcoin the historical fall is evident:
A key factor is that several of these alternative currencies (Altcoins) do not have a limited offer as Bitcoin, which makes them vulnerable to the internal inflation of their own ecosystem.
A worldwide trend
The BCH’s warning reminds a bit of confrontational measures taken by other regulators. A remarkable example occurred in 2022, when the Central Bank of Argentina prohibited commercial banks to offer the purchase of Bitcoin and other cryptoactives from its customers.
If we go further back, we find that the Central Bank of Spain has not shown a proactive attitude towards the sector, because in 2019 it published a report in which it described Bitcoin as an inefficient payment system on a large scale. Something similar happened in 2021, when he warned that cryptocurrencies represent a «high -risk investment», one that could result in the total loss of the capital invested.
The Central Bank of Chile is not far behind, since the beginning of December stated that cryptocurrencies do not meet the necessary security requirements to be included in their national reserves, as reported by cryptootics.