Bank of England Governor Andrew Bailey and Elon Musk issued the same warning to Bitcoin and cryptocurrency investors. Details are in our news.
Bank of England Chairman and Elon Musk issue the same warning
Bank of England Governor Andrew Bailey, Financial Behavior in 2017 He repeated his warning to Bitcoin and crypto investors when he was Chairman of the Authority (FCA). Bailey, “If you are investing your money in Bitcoin, be prepared to lose!”
Bailey is now appointed Governor of the Bank of England. “I repeat the warning I made in 2017,” Bailey said.
According to Bailey;
“Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin have no real value.. This is not to say that people do not value them, because they may have an extrinsic value.. But they have no intrinsic value. A fiat currency like the US dollar can also be said to have no real value.. The dollar gets its value from credit and trust in US monetary policies.”
Please See: The most asked question in the market: Bitcoin or Ethereum?
Elon Musk’s statements before the famous SNL night attracted a lot of attention. In these statements, Elon Musk shared the 2-minute episode with his followers on Twitter.. Many news portals focused on Elon Musk’s statements “cryptocurrencies are the money of the future” in this video and ignored his other comments.
We see Elon Musk’s post below.
Cryptocurrency is promising, but please invest with caution! https://t.co/A4kplcP8Vq
— Elon Musk (@elonmusk) May 7, 2021
Musk:
“We should not invest all of our lifetime savings in cryptocurrencies… Maybe cryptocurrencies are the currency of the future. Consider speculation in cryptocurrencies. Don’t go too far (in investing).
Dogecoin was invented as a joke about cryptocurrencies. There is an irony here between the real and the fake. Dogecoin was created as a joke and then turned into real cryptocurrency.”
Elon Musk urges crypto investors to be cautious in his statements above. It warns crypto investors not to invest their entire lifetime units in this space.
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