The co-founder and technical director of Bitcoin.com, Bitcoin.com, one of the world's largest bitcoin trading sites, Emil Oldenburg, sold all its crypto currency, calling the bitcoins hopeless. This was reported by Nordic Business Insider.
In an interview with the Swedish technology website Breakit, a Swedish businessman who has lived in Tokyo for the past three years reported that he "recently" sold all his bitcoins without telling him how much he had sold and how much it had earned.
According to Oldenburg, bitcoin is "as good as it is useless." "I would say that investing in bitcoin is the most risky investment that you can make," the crypto currency guru said.
He specified that bitcoins, like the currency for exchange trades, have no future. He named the main problems of bitcoin. These are high commission fees for transactions, which are doubled every three months (according to Ars Technica, the transaction fee was recently $ 26). And the low speed of transfers, during which the passage of one operation takes up to 4.5 hours. This leads to the fact that bitcoins become illiquid, and investments in them are too risky.
"When people understand how bitcoin works, they will start selling it," Oldenburg said. He clarified that he had sold all his bitcoins to switch to another version of the crypto currency, which appeared in August 2017 - Bitcoin Cash.
Oldenburg started selling bitcoins five days before bitokoin reached another record value of $ 20,000 on the morning of December 17. That day, trading began on its course at the largest CME futures exchange (Chicago Mercantile Exchange). However, the Crypto currency was not able to continue its recovery, and later that same day (as of 12:30 Moscow time) its value fell by 5% from the peak value to $ 19,000, according to Coinmarketcap.
Bidding on CME occurs on the bitcoin index, that is, does not require direct sale and purchase of bitcoin, which can partially solve the problem of long payment passage, which is regularly encountered by crypto-currencies. Earlier, trading in futures was opened on another Chicago stock exchange - CBOE. In the future, it is expected that the trades in bitcoins of one of the Nasdaq sites will start trading together with the brokerage firm Cantor Fitzgerald LP.
The launch of bitcoin trading on official trading floors enhances its status in the eyes of players, as now the crypto currency is in the "gray zone" of the legislation of many countries around the world. Some financial experts consider it a "bubble" or even a means capable of undermining the global economy.
Since the beginning of the year, the price of crypto currency has increased almost 20 times. Capitalization of all crypto-currencies in the world is about $ 587 billion. More than half of this amount (54%) is accounted for by bitcoin.