- The 24-year-old founder of Ethereum has warned that cryptocurrencies could drop at any time.
- He added that nobody should invest more than they can afford to lose.
- Ethereum is the second most valuable cryptocurrency.
The founder of Ethereum, the second most valuable cryptocurrency in the world, has warned that cryptocurrencies “could drop to near zero at any time.”
To those interested in investing, 24-year-old Russian-Canadian programmer and writer Vitalik Buterin also suggested: “Don’t put in more money than you can afford to lose.”
The warning came via a tweet on Buterin’s account on Saturday.
The full message read: “Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Don’t put in more money than you can afford to lose. If you’re trying to figure out where to store your life savings, traditional assets are still your safest bet.”
Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Don't put in more money than you can afford to lose. If you're trying to figure out where to store your life savings, traditional assets are still your safest bet.
— Vitalik "Not giving away ETH" Buterin (@VitalikButerin) February 17, 2018
The response to Twitter warning was divided.
Some users suggested Buterin was creating “unnecessary panic.”
Vitalik every one knows that by now. By sending such messages all you do is create unnecessary panic.
— Farbod (@Farbod_Tweet) February 17, 2018
haha, who feared you into that ststement?
sure global equity and bond markets are the way to go
— ssfaser ???? (@KenKlmc2) February 17, 2018
Vitalik my friend are you okay?
— Crypto Capilla (@SrCapilla) February 17, 2018
Some outright disagreed with him…
No…ETH is my safest storage
— Chinh Khac Le (@ChinhKhacLe1) February 17, 2018
I'd rather live with disappointments than regrets, how about that? I lost 3000 is a lot better than I wish I had invested 3000 2Y ago.
— Dario osorio (@Rdarioso) February 17, 2018
How are traditional assets the safest bet? We live in the most volatile time in history and also it is such a pain to trade stocks and other financial instruments. Crypto is the answer to the maladies of the current system. You just need to do your homework before you invest.
— Quintessential Mind (@theQSLmind) February 17, 2018
…And some simply joked that the advice was coming too late.
Too late. Already all in with my life savings. (100$)
— Tragedy K (@TragedyK_) February 17, 2018