French Central Bank Warns of Risks Related to Bitcoin

Says the cryptocurrency's price is inherently unstable

PARIS — The Bank of France warned on Thursday about risks related to the digital currency bitcoin, adding its voice to growing concerns about the unregulated, online money.

Bitcoin is not backed by any central bank or government, or by physical assets. Their value depends on people's confidence in the currency.

It has been gaining acceptance by the general public and investment community but has yet to become an accepted form of payment on websites of major retailers such as Amazon.com.