Vitalik Buterin: Cryptocurrencies can fall down at any moment

Vitalik Buterin: Cryptocurrencies can fall down at any moment

Ethereum founder warns investors about the risk of investing in "digital money".

Russian-born Vitalik Buterin, the co-founder of Ethereum, predicts cryptocurrencies’ sudden drop to near-zero. He recommends not to put all the money into Bitcoin or Ethereum.

"Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time," Vitalik Buterin said on Twitter. "Don't put in more money than you can afford to lose."

The Ethereum co-founder advices to invest money into traditional assets: "If you're trying to figure out where to store your life savings, traditional assets are still your safest bet."

On Monday Bitcoin rate is above $11.5k per coin, the Ethereum rate is $953 per coin.

In December, Buterin had drawn an analogy between wild investments in the cryptocurrency market and the record amount paid for the most expensive picture of the world, Leonardo Da Vinci's “Salvator Mundi”.

The 23-year-old Ethereum creator was included in The Youngest Billionaires In The World 2017 list by Forbes. The Ethereum capitalization is estimated about $30 billion.

Scammers often act under the name of famous people, among whom the name of Vitalik Buterin is very popular. Such accounts ask users to send the amount of cryptocurrency funds in exchange for a large amount.

Co-founder Ethereum warned users not to trust people asking for or offering money on Twitter.


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