ECB's Nowotny warns against accepting bitcoin as an official payment method

In an interview published in the Austrian daily - Kleine Zeitung on Wednesday, the European Central Bank (ECB) Governing Council member Ewald Nowotny made arguments against the use of the digital currencies (viz. Bitcoin) as an official payment method.

Meanwhile, Bitcoin has fallen 20% since its record high in June, but is still 245% over the past year.

Key Quotes:

"Bitcoin lacks the one thing that makes a good currency, namely stability." 

"Bitcoin is an object of speculation."

“The ECB would not prohibit bitcoins, people should be aware of the risks.”