Ethereum founder warns that cryptocurrencies are hyper-volatile and could fall at any time
Vitalik Buteri tells investors not to put in more money than you can afford to lose.
The founder of Ethereum has warned that cryptocurrencies are still a new and hyper-volatile asset class and could fall violently at any time.
Vitalik Buterin, the 24-year-old creator of Ethereum, believes that traditional assets are still the “safest bet”.
Buterin made the claims on Twitter where he warned the masses about putting their life savings into virtual currencies. “Don’t put in more money than you can afford to lose. If you’re trying to figure out where to store your life savings, traditional assets are still your safest bet,” he tweeted.
“Cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time,” he added.
Buterin’s advice is surprising considering he made billions from cryptocurrencies, his personal wealth is estimated at a cool $92.4 billion. Meanwhile, Ethereum remains strong at $944.47.
Interested in cryptocurrencies? Take note that the value of investments can fall as well as rise, and you may get back less than you invested. Past performance is no guarantee of future results. Your capital is at risk.
Read on to find out more about how to buy, sell, transfer and (potentially) make money on bitcoin.
How to spot and avoid a bitcoin scam – check out finder’s guide to becoming cryptocurrency vigilant.
Cryptocurrencies have been the future of money since 2009. Now they’re a whole lot more. Check out finder’s complete guide to cryptocurrencies.
How about a more traditional savings account? Choosing the right savings account for your financial situation will ensure that your money is earning the highest return possible.
From children’s bank accounts all the way to retirement funds – finder.com compares a wide range of products to help you make an informed decision in every stage of your life.
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