The Bank of England released a report Thursday on innovations in payment technologies and the emergence of digital currencies, specifically bitcoin. It’s bottom line: The digital currency doesn’t yet pose a threat to the U.K. financial system.

#1: It’s A Bank Killer

The BOE said the key innovation of digital currencies is the ‘distributed ledger’ technology that allows a payment system to operate in an entirely decentralized way, with no intermediaries such as banks.

#2: It’s Not For Everyone, Yet

While digital currencies could, in theory, serve as money for anybody with an internet-enabled device, at present they serve the roles of money only to a limited extent and only for relatively few people.

#3: Never Have So Few..

The BOE estimates that as few as 20,000 people in the United Kingdom currently hold any bitcoins, and that as few as 300 transactions may be conducted by those people per day.

#4: Owed So Little

The bank estimates that there is less than £60 million ($98 million) worth of bitcoins circulating within the U.K. economy, which represents less than 0.1% of sterling notes and coin and only 0.003% of broad money balances.

#5: Transaction Fees Will Rise

A key attraction of digital currencies like bitcoin is their low transaction fees. But as usage grows, and bitcoin’s set supply diminishes, these fees may eventually need to rise significantly.