Nasser Hakimi, the ex-deputy governor of Iran’s Central Bank (CBI), makes a statement warning everyone about the risk associated with people spending all of their money on BTC, as the institutions and investors are becoming more and more attracted towards the world’s leading cryptocurrency, Bitcoin.
Nasser Hakim stated in an exclusive interview hosted by the Tasnim News Agency that the government of Iran should regulate the cryptocurrency and keep a close eye on all the happening around its transactions. He mentioned that failing to regulate the crypto market could end up in a financial disaster for the Iranian government and the public alike.
Why Is It Risky To Invest In Bitcoin?
Hakimi requested the people trading crypto to be very cautious when they are purchasing Bitcoins (BTC) while mentioning the legal aspects as well as risks involving the trade of digital assets and the significant fluctuation in the prices of these crypto-assets when the crypto market has not been regulated properly.
This was not Hakimi’s first statement against the trade of digital assets such as Bitcoin. He also mentioned this in 2017 and warned potential and current investors to be very cautious while buying BTC and other digital assets.
Difference between the Bitcoin of 2017 and the present Bitcoin
Nasser Hakimi has warned the people again to not invest in Bitcoin as the leading cryptocurrency has been setting huge records just in a matter of some months. There was not much investor interest in Bitcoin back in 2017, but the demand for this cryptocurrency is now sky-high, and everyone wants a piece of the bread. Investors are lining up to put Bitcoin and other crypto assets in their portfolios in order to join the profit bandwagon.
Large corporations and financial firms like Fidelity, Tesla, and PayPal have all joined the bandwagon and have invested billions of US Dollars into Bitcoin. Tesla recently announced that they had acquired Bitcoin, which is worth $1.5 billion, and that they would be accepting Bitcoin as a mode of payment for their products and services has created a lot of clouts, and Bitcoin’s price went to an all-time high after that. Billionaires from The Wall Street are now also supporting Bitcoin publically and have been investing in it, boosting the confidence of somewhat confused investors.