Coinbase CEO Brian Armstrong Issues Serious Warning As Bitcoin Surges Toward $25,000
Bitcoin has surged higher again, soaring to fresh new all-time highs of over $24,000 per bitcoin after beginning the week at under $19,000.
The bitcoin price, up a staggering 30% this week alone, climbed to $24,220 on the Luxembourg-based Bitstamp bitcoin and cryptocurrency exchange before falling back slightly.
However, amid this week's huge bitcoin and cryptocurrency Santa rally—which has added over $100 billion to the value of the world's digital tokens—Coinbase chief executive Brian Armstrong has warned over the "risk" of bitcoin and cryptocurrency investing.
"While it’s great to see market rallies and see news organizations turn attention to this emerging asset class in a new way, we cannot emphasize enough how important it is to understand that investing in crypto is not without risk," Armstrong wrote in a blog post this week—published just before the San Francisco-based company revealed it has filed confidentially for a long-awaited initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC).
"Crypto can be a volatile asset class," Armstrong added. "Often more so than the types of traditional financial instruments that most investors are used to. For example, this means that the market can move in either direction much faster than equity markets."
Learn more about the statement here. (https://www.forbes.com/sites/billybambrough/2020/12/19/coinbase-ceo-brian-armstrong-issues-serious-warning-as-bitcoin-surges-toward-25000/?sh=651025571ff2)
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