TR;DR Breakdown:
- Irish Central Bank Executive expresses fear over bitcoin growth.
- Bitcoin investors have to be careful with investments.
- Mike Novogratz opposes Gabriel’s revelation.
Executive of the Central Bank of Ireland, Gabriel Makhlouf, has expressed his worry about Bitcoin investors. He stated that all who have invested in Bitcoin would end up losing all their money.
Even as he is worried about the fate of Bitcoin investors, he still believes that Bitcoin will not be a threat to the economic stability of the nation and beyond. Gabriel further went on to say that although Bitcoin looks promising in the market, Bitcoin investors should expect a downturn of events in the future.
Bitcoin investors need protection now more than ever
Gabriel disclosed that the Central bank has a considerable task to protect bitcoin investors after his revelation. There is a huge interest in Bitcoin at the moment as it is gaining massive ground in the market. However, it is not a threat to financial stability due to a lot of Bitcoin investments.
It is not a surprise that Gabriel has expressed his worries about Bitcoin because of the recent ground the crypto has gained. The top cryptocurrency increased by 15 percent yesterday, attracting a lot of interest. In recent events, whenever a crypto asset rises the chances of a drop are inevitable, so Gabriel’s revelation is understandable.
Mike Novogratz against Gabriel’s view on Bitcoin investors
In a recent tweet, top crypto investor, Mike Novograt was in apparent disagreement with Gabriel’s Bitcoin prediction. He stated that the crypto market is very dynamic, and cryptocurrencies like Bitcoin will not be affected. He urged investors to keep stalking and holding bitcoin as it is a 100 percent safe investment.
Recently, many authorities, including the European Central Bank, have been so critical of cryptocurrencies, most especially Bitcoin. The ECB’s President, Christine Lagarde, has urged governments to regulate cryptocurrencies because of previous scam-related events.
Although Bitcoin investors are warned to be careful about investment and the chances of accruing a loss, according to Gabriel, it is still a haven asset for a lot of crypto investors like Mike Novogratz.
