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Ethereum founder Vitalik Buterin last week warned investors about the risks associated with cryptocurrency investments.
Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Don't put in more money than you can afford to lose. If you're trying to figure out where to store your life savings, traditional assets are still your safest bet.
— Vitalik Buterin (@VitalikButerin) February 17, 2018
The warning follows the recent drop in the price of bitcoin from 19666 (December 17) to 5920 (February 06). Financial regulators across the globe have cautioned cryptocurrency users against cryptocurrency investments, urging them not to invest the money they cannot afford to lose.
This, however, is not the first time that Buterin has voiced his concerns over the extreme volatility of prices of cryptocurrencies. In December 2017, he tweeted.
*All* crypto communities, ethereum included, should heed these words of warning. Need to differentiate between getting hundreds of billions of dollars of digital paper wealth sloshing around and actually achieving something meaningful for society. https://t.co/aNpEnBNGsA
— Vitalik Buterin (@VitalikButerin) December 27, 2017
