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Brian Armstrong, CEO of leading provided words of warning to new cryptocurrency buyers amid bitcoin’s latest climb as Bitcoin on its highest level.
The CEO of the leading cryptocurrency exchange said this in a blog post on Wednesday. He and his company take a “long-term view of the market” while emphasizing that cryptocurrency investing was “not without risk.”
Armstrong wrote, “While we’re always excited to see increased interest in crypto, it’s also important to point out that this is not only a time of high volumes but also price volatility. The market can move in either direction much faster than equity markets.”
Armstrong also cautioned investors who might be focusing on short-term speculation and encouraged his customers to “seek out resources” and consult financial experts in order to obtain a better understanding.
The CEO also alluded to Coinbase’s multiple outages this year as the exchange has struggled to keep up with a flood of traders looking to capitalize on bitcoin’s high volatility.
Armstrong wrote, “Although we always do our best to address our shortcomings and transparently communicate any information that our customers need to confidently manage their accounts and make informed trading decisions,”
