Turkey’s Deputy Prime Minister Mehmet Simsek warns: Beware of bitcoin
Deputy prime minister’s warnings come in the wake of bitcoin’s skyrocketing value -- up more than 1,600 percent this year
Turkey’s deputy prime minister on Wednesday warned investors against betting on cryptocurrencies such as bitcoin.
“Bitcoin surpasses tulip mania, which was the biggest asset bubble in the history of finance,” Mehmet Simsek said on Twitter, referring to the 17th-century Dutch craze for tulips.
While the price of Bitcoins can suddenly rise to an extreme level, "it can also collapse later," he warned.
Tulip mania took ahold of the Netherlands in the 1630s when prices of the flower bulbs rose sky high before collapsing in a spectacular fashion.
Simsek’s warnings come in the wake of bitcoin’s skyrocketing value -- up more than 1600 percent in the year.
Source: Anadolu Agency
Congratulations @krip! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @krip! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @krip! You received a personal award!
Click here to view your Board of Honor
Congratulations @krip! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!