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Komfie Manalo, Opalesque Asia: Independent financial services firm deVere Group said that bitcoin's strong surge signals the dawn of the financial technology era.
However, deVere Group founder and Chief Executive Officer Nigel Green said that investing in the world's largest cryptocurrency by market value remains "a major gamble". On Thursday, bitcoin's value jumped to a record $15,058 appreciating by more than $3,000 in 36 hours.
Green commented, "Bitcoin's impressive current run continues, leaping over one psychological hurdle after another, and outstripping most previous expectations. It has caught many experts and commentators off guard."
He added that the meteoric rise of bitcoin underscores the demand and the need for digital currencies in today's world. Bitcoin and others have identified this and are meeting those demands and needs and filling the void, he said.
Bitcoin remains a major gamble
"Whilst many Bitcoin investors are popping the champagne corks at the moment, some caution needs to be exercised too," Green said.
Green issued caution against jumping into the cryptocurrency bandwagon as he described bitcoin as "still a major gamble" because the technology is still very much an 'unchartered waters' asset that the market has not experienced before.
More importantly, Green reminded investors that an asset that dramatically...................... To view our full article Click here
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