RE:Oopsjustrelax2 wrote:
Cryptocurrency investors should be prepared to lose all their money – Bank of England
Digital currencies “have no intrinsic value,” according to Bank of England (BOE) Governor Andrew Bailey. He warned that people who invest in crypto should be prepared to lose all their money.
A skeptic of crypto, Bailey was asked at a press conference about the rising value of cryptocurrencies. He said, as quoted by CNBC: “They have no intrinsic value. That doesn’t mean to say people don’t put value on them, because they can have extrinsic value. But they have no intrinsic value.”
The BOE governor added: “I’m going to say this very bluntly again – buy them only if you’re prepared to lose all your money.”