In his tweet, Lee intended to remind others that “bitcoin is a hypervolatile asset” and that this makes it “great for volatility and other dedicated traders.” Still, he noted that most should probably use a different approach instead:
“For most, taking a long-term view is more appropriate.”
Representing the opposite view, Washington Post columnist Michelle Singletary suggested in an article published today that people tempted to invest in bitcoin should “keep in mind these investing bubbles that burst — tulip bulbs and Beanie Babies.” She further notes:
“The current price surge for bitcoin has many people fearing they will miss out on a big opportunity to make a lot of money. But buying bitcoin is still akin to gambling.”
Also today, news broke that BitMEX, the world’s largest cryptocurrency trading platform, saw record volumes across its operations as bitcoin hit $13,000.
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