Powell: Bitcoin Buyers Should Be Aware of the Risks

February 13, 2018

< 1 min

Table of contents

Jesse Powell, founder and CEO of Kraken, explained his views about the digital currency phenomenon.
“I think ultimately consumers need to look out for themselves, look into the fundamentals of any coin and not rely on any particular exchange to protect them from market volatility,” he told CNBC on Tuesday.
Speaking at the World Government Summit in Dubai, Powell said Kraken conducted a “thorough” evaluation process to ensure every digital coin available on its San Francisco-based exchange was “almost certainly not a scam.”

“We make no promises about the future of any coin, things can change when you raise $1 billion in 10 minutes,” he said.

Last month, billionaire investor Warren Buffett warned that the recent craze over bitcoin and other cryptocurrencies would almost certainly end badly. And, before walking back on his earlier criticisms at the start of the year, J.P. Morgan Chase Chairman and CEO Jamie Dimon previously described bitcoin as “fraud.”
When sked whether cryptocurrency traders should take the views of such seasoned investors seriously, Nick Spanos, CEO of Blockchain Technologies Corporation, replied: “Warren Buffett is good at renting furniture and whatever other businesses that he does, but we are in a different business.”

What should you learn next? Turn the wheel to find out!

rainbow circle

How to Start Trading in 2021?

share

previous post

The 2024 US Election: How Will the Markets React?
US election impact on markets
The 2024 US Election: How Will the Markets React?

next post

Ted-Jan Bloemen
Olympic Athlete Signs First Cryptocurrency Sponsorship
Olympic Athlete Signs First Cryptocurrency Sponsorship

Latest posts

The 2024 US Election: How Will the Markets React?

31.10.2024

US election impact on markets

Breaking a Losing Streak

29.10.2024

How to Trade Commodities on IQ Option: A 360° Guide

14.10.2024

Trading commodities on IQ Option

The US Presidential Race 2024 Market Influence: What You Need to Know Now

11.10.2024

Top TV Series and Reality Shows about Trading

07.10.2024

Top TV shows about trading

Short Selling: How to Trade Forex in a Downward Market

30.09.2024