Billionaire Leon Cooperman urged caution when investing in bitcoin

Bitcoin is more like an instrument of barter, the use of which carries a high risk, than the "evolved" money. This was stated by the head of the Bank of Mexico, Alejandro Diaz de Leon, reports Reuters.

"When someone receives bitcoin in exchange for a good or a service, we believe that this [transaction] is more like barter. A person exchanges goods for goods, but not for money. The latter these days are fiat currencies issued by central banks. Bitcoin is more like a precious metal than a legal tender for day-to-day payments," he explained.

According to Diaz de In order for cryptocurrencies to be recognized as money, the asset class needs to become a reliable payment instrument. They should also perform a value-preserving function, but this is hampered by price volatility.

"People don't want their purchasing power, their wages day to day of the day rose or fell by 10%. You don't want to see that kind of volatility in purchasing power. In that sense, it [bitcoin] is not a reliable guarantor of value," the official stressed.

At a recent conference, Bank of Sweden Governor Stefan Ingves compared buying and selling bitcoin to trading maThe government has also taken a number of steps to improve the sustainability of currencies that lack state support.

"Usually private money collapses sooner or later," Bloomberg quoted Ingves as saying.

Recall that in August, Roberto Campos Neto, president of Brazil's central bank, spoke out in support of regulating cryptocurrenciesт.27% of U.S. citizens are positive about the hypothetical scenario of bitcoin being recognized as a means of payment. These results were obtained by the research organization YouGov.

A total of 4,912 respondents took part in the survey.

Strictly against such an initiative were tonly 28% of respondents, 11% would rather not welcome it, and 34% were undecided. Every ninth American would fully support the idea, every sixth would give preference to the option of moderate support.

The main supporters of the first cryptocurrency were respondentsYou are between 25 and 34 years old, the opponents are people over 55 years old.

Among women 41% had no idea about bitcoin, among men there were 27% of them. Almost every third representative of the male sex would have a positive attitude to legalization of the first cryptocurrency, among women this share was 21%.

The survey also found an increase in bitcoin supporters and awareness as annual income levels rise.

As a reminder, according to the GamblersPick survey, 37% of U.S. cryptoinvestors would not even sell digital assets to pay bills, and slightly more half - won't spend it on luxuries or vacations.

Earlier research by BitPay payment system and news aggregator PYMNTS showed that 60% of digital asset owners in the U.S. consider cryptocurrencies suitable for everyday purchases, despite the existing barriers.Nikita Semov, a practicing trader and founder of the Crypto Mentors project, talks about the current market situation.

Bitcoin has been in the phase of volatility narrowing for several days, which is typical for cryptocurrency instruments after significant impulses. Let's take a look at digital gold's growth prospects in the coming weeks.

From a global perspective, the first cryptocurrency is in a steady uptrend. However, the current uptrend is overshadowed by significant momentum on 7 Sepin December. Let's look into the causes.

Reaction was caused by price coming to Low Volume Node by volume analysis. The pulse bar has a significant shadow from below, which indicates the presence of demand at $42,000.

Globally in such formations there is nothing terrible and ruinThe current pattern indicates the need to form a sideways range before crossing the key level of $53,000. The current pattern points rather to the need to form a sideways range before crossing the key level of $53,000.

If we consider speculation, I recommend to look for sets from the boundaries to the limits of the diapzone, making transactions from the zone of "cheap" prices near the lower boundary of the range to the zone of "expensive" prices - the upper boundary.

Main expectation in the medium term will be built from balance formation with exit upwards (in the direction of previous trend).Deripaska named the pros of creating a digital ruble, and Nasdaq will act as a supplier of quotations for tokenized shares - these and other important news of the cryptocurrency market in our daily review.

CryptoBBinance announced the appointment of Brian Schroeder as president of the bitcoin exchange's U.S. unit.

Russian billionaire Oleg Deripaska said that the introduction of the digital ruble would protectThe Russian government is trying to make investments in the context of the sanctions wars, TASS wrote.

Mining company Argo Blockchain has agreed on a loan from Mike Novogratz's crypto-bank Galaxy Digital in the amount of £18 million. The funds will be spentThe Group's production facilities are located in Texas, United States of America.

The U.S. stock exchange Nasdaq will start delivering price quotes for tokenized shares, Bloomberg reported, citing the exchange.

The emergence of the numbersThe Federal Reserve's (CBDC's) further replacement of physical banknotes could provoke "dramatic changes". The Wall Street Journal (WSJ) came to that conclusion after interviewing representatives of the banking sector.American billionaire Leon Cooperman admitted in a commentary to CNBC that he does not understand the principle of the first cryptocurrency. He also called for caution when investing in bitcoinIn.

"If you don't understand bitcoin, then you're old. I'm 78 years old. I'm old. I don't understand it. I would be very careful about bitcoin," Cooperman stated.

He also noted that he considers it evilthen the best asset to hold the value.

Leon Cooperman is the head of the hedge fund Omega Advisors, which has $3.3 billion in assets under management. Forbes estimates the wealth of millennialsarder investor of $2.5 billion.

Recall that in September, Senator Elizabeth Warren called cryptocurrencies "the new shadow banks".

In August, bitcoin skeptic and gold supporter Peter Schiff acknowledged that the price of digital gold could soar to $100,000 and he was in vain not to buy the asset in 2011. However, the entrepreneur still considers the first cryptocurrency a bubbleм.

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