Advertisement
AD

Main navigation

Bank of England Official Says Retail Investors Don’t Understand Crypto

Advertisement
Tue, 17/05/2022 - 20:31
Bank of England Official Says Retail Investors Don’t Understand Crypto
Cover image via stock.adobe.com
Read U.TODAY on
Google News

During a recent event hosted by The Wall Street Journal, Bank of England Jon Cunliffe opined that retail investors do not actually understand cryptocurrencies.

He added that cryptocurrency buyers could end up losing all their money since digital assets are highly speculative.

The oft-repeated warning is highly relevant in the wake of the collapse of the Terra protocol. Its native LUNA token plunged to zero in days, impoverishing its investors.     

Advertisement

Related
Cunliffe believes that digital assets have no intrinsic value, which is why they fluctuate depending on market sentiment.    

He added that cryptocurrencies are not actually viewed as a financial investment by retail investors.   

The BoE official has added that cryptocurrencies should be treated as risky securities.

The total cryptocurrency market capitalization currently stands at $1.29 billion.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD