Too bad for Bitcoin owners: Get ready to lose all your money!
Andrew Bailey, General Manager of the Financial Services Authority (FSA), who regulates and supervises the finance industry in the UK, warned investors in Bitcoin 'to be ready to lose all their money'.
At the beginning of this year, the value of the virtual currency Bitcoin, which has been trading at $ 16,000, is now among the most talked about in the whole world. Bitcoin, which gained 1.500 percent in 2017, is called 'digital gold' by some. Some investors, economists and state people are advocating Bitcoin and the 'blockchain' technology behind it, while others criticize it as a tough one. Speaking to the BBC's Newsnight program, Bailey said that neither the central banks nor the government are behind this 'currency', so investment in Bitcoin is not safe. 'It's not a currency' Bailey argued that buying Bitcoin is like playing gambling, and that it has the same risk. Baily said: "This is not a currency, it is not regulated in the Bitcoin form, it's a very volatile commodity in terms of pricing, I want to warn you by looking at what happened last year, and if you want to invest in Bitcoin, be prepared to lose all your money. it is my most serious stimulus. " During the week, Deputy Prime Minister Mehmet Simsek in charge of the economy explained in his statement that "Bitcoin has passed the tulip madness, the biggest balloon of the financial history, and must stay away from this speculation." Bitcoin's price could suddenly rise to extremes and then collapse later. Likewise, Federal Reserve Chairman Janet Yellen said that Bitcoin was "speculative" after the weekly meeting of the Federal Open Market Committee (FOMC).