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Cryptocurrencies such as bitcoin are a gamble to Canada’s central bank chief.

Bank of Canada Governor Stephen Poloz, delivering his last speech of the year Thursday in Toronto, said currencies must act as a reliable store of value and should be able to be easily spent.

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“What their true value is may be anyone’s guess — perhaps the most one can say is that buying these things means buying risk, which makes it closer to gambling than investing,” Poloz said. “All I will say to people intending to buy a so-called cryptocurrency is that you should read the fine print and make sure you know what you are getting into.”

Poloz acknowledged demand for digital cash could grow over time and policy makers are studying whether a case could be made for central banks to provide it.