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Crypto Assets Aren’t a ‘Real Investment,’ ECB Vice President Says
Crypto’s weak fundamentals mean investors should be prepared for more price swings, Luis de Guindos said.
Crypto assets shouldn't be seen as a “real investment,” according to European Central Bank Vice President Luis de Guindos.
STORY CONTINUES BELOW
- Difficulties in discerning the underlying value of crypto assets prevent them being classified as real investments, de Guindos said in an interview with Bloomberg TV on Wednesday.
- Crypto assets have “very weak fundamentals.” Investors should be braced for more price swings, he said.
- “When you have difficulties to find out what are the real fundamentals of an investment, then what you’re doing is not a real investment.”
- Crypto investors have had to withstand stomach-churning volatility this month, with the world’s largest cryptocurrency, bitcoin, dropping 34% so far in May, the most in a single month since November 2018.
See also: ECB Speeds €1.85T Stimulus Program as Lagarde Frets Over ‘Premature Tightening’
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
