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Home Business Bitcoin investors could lose everything, Irish central bank governor warns - Markets

Bitcoin investors could lose everything, Irish central bank governor warns – Markets


Bitcoin investors must be prepared to “lose all their money,” said Gabriel Makhlouf, a member of the European Central Bank’s board of governors, in a central bank’s latest warning about cryptocurrency.

“Personally, I don’t know why people invest in these types of assets, but they clearly see them as assets,” Makhlouf, who is also governor of Ireland’s central bank, told Bloomberg TV on Friday. “Our role is to ensure that consumers are protected.”

Makhlouf’s comments echo the skepticism of ECB leaders. Cryptocurrency is a “highly speculative asset”, said President Christine Lagarde this month. Bitcoin prices have more than doubled since November and exceeded $ 40,000 earlier this month. Huge volatility has been dominant, with four daily fluctuations of more than 5% over the past nine days.

On Friday, bitcoin rose above $ 35,000, with brokers attributing the move to Elon Musk, who mentioned the cryptocurrency on his Twitter account.

Still, Makhlouf does not see “financial stability problems that stem from bitcoin alone”.

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“I am more concerned that consumers make the right choices,” he said.

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Source link
https://www.jornaldenegocios.pt/mercados/detalhe/investidores-em-bitcoin-podem-perder-tudo-alerta-governador-do-banco-central-da-irlanda


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