The Head of Russia’s Central Bank: Crypto Is The Most Dangerous Investment Strategy
Elvira Nabiullina said that the prices of the digital assets are very volatile and investors are in real danger of losing their funds.
The Chief of Russia’s Central Bank, Elvira Nabiullina, sounded a note of caution for investors to beware of the risks in the crypto market. She opined that digital assets are very volatile and warned investors to be wary of ”appalling” losses.
In an interview with the local newspaper Komsomolskaya Pravda, Elvira Nabiullina, she stated investing in digital assets is more dangerous than any other strategy:
”Speculative cryptoassets are surely the most dangerous strategies of all. The Central Bank never gives advice, where to invest, but in this particular case – here [one] should definitely not [invest].”
The top banker pointed out that the main issue of the market is its volatility, and people may lose colossal sums because of it:
”The price is very volatile, losses may be appalling.”
Bank of Russia is Wrong
Russia’s Central Bank keeps piling up negative comments on cryptocurrencies and trading regulations. The oligarch, who was once the richest man in Russia, Oleg Deripaska, went further, stating that the largest country by landmass should follow El Salvador’s example and add Bitcoin as a payment method:
”Even poor El Salvador, known for being close to oft-mentioned Honduras, has realized the need for digital currencies and taken a simple path, recognizing Bitcoin as a means of payment.”
