Vladimir Putin Believes Cryptocurrencies are “Highly Risky”

Cryptocurrencies represent a risk in terms of Putin’s opinion despite the fact that many people wow at the revelation of how significant these are. It is also unclear whether or not if decentralization represents the future of finance just yet, but it is a fantasy shared by many. According to President Vladimir Putin, digital assets are extremely volatile and, for that matter, a dangerous investment solution, but in some capacity, they might represent the future of the economy and finance. He says that Bitcoin, Ether, and many other cryptocurrencies are volatile in their action, and there is no disparity on that, but given the unique idea which these represent, both the digital assets and associated products with them could prove to be a significant financial revolution to the future.

Vladimir shared his thoughts regarding crypto on the “Russia Calling” investment forum in Moscow. He says that volatility is a common factor when it comes to investing in the crypto market, and cryptocurrencies are not backed by anything. Because of that single reason, the risks are sky-high, and the chance to lose one’s investment altogether is also very apparent.

Therefore anyone who wants to put their money or investment into the crypto market should first consult with those who are already doing it; this way, he can have a brief set of rules allowing him to play as safely as he can. This way, the volatility factor definitely loses some of its power, if not all of it.

Crypto can Become the Future of Finance

Another aspect of crypto, according to Vladimir Putin, is that most of these cryptos are fairly new, and therefore they need some time to combat their price fluctuations and who knows if some of them will be able to do that in the upcoming years. During the interview, Putin compared Bitcoin to the E-commerce giant Amazon which, according to Putin, was also extremely unstable in its early days but managed to become this ultimate e-commerce platform that enjoys a great audience from all over the globe.

While he was criticizing cryptocurrencies and decentralization, Vladimir Putin didn’t rule out the fact that someday these could become the future of modern finance and help us build a stronger and vibrant monetary system.