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[aryan4]

Speaking to local news outlet Arab News, Saudi Arabian financial expert and former banker Fadhel Al-Buainain rejected the leading cryptocurrency as it carries "significant risks."
He stated that Bitcoin is a "top-notch speculation tool" as it has no support from economic superpowers or cash reserves.
What do you think of this expert's opinion?

 

[Josemendez]

Speaking to local news outlet Arab News, Saudi Arabian financial expert and former banker Fadhel Al-Buainain rejected the leading cryptocurrency as it carries "significant risks."
He stated that Bitcoin is a "top-notch speculation tool" as it has no support from economic superpowers or cash reserves.
What do you think of this expert's opinion?

Ofcourse Bitcoin is able to said up to this present height simply because there is no form of control around it. This is the advantage it has against fiat currency

 

[achawaskey]

That's one of the reasons Bitcoin is been created, it is not tire to a particular financial institutions or country and no form of control. This is why Bitcoin is doing well in the market.

 

[aryan4]

Ofcourse Bitcoin is able to said up to this present height simply because there is no form of control around it. This is the advantage it has against fiat currency

It is partially related to the news I want to learn. You somehow seem to follow the markets. Have you ever come across a Saudi Arabian fund operating in the money markets or have you seen any news about it?

 

[Josemendez]

It is partially related to the news I want to learn. You somehow seem to follow the markets. Have you ever come across a Saudi Arabian fund operating in the money markets or have you seen any news about it?

I have read such sometime ago but could recall exactly what the investment was on . But in most cases they don't key in to such investment easily .

 

[Wisdom01]

Why would he expect bitcoin to have cash reserve , the investment people have in bitcoin is already enough , and most times if the price falls people but very fast

 

[highspeed]

Well, he is the expert. But nevertheless given the ratio that is held between Bitcoin / dollar, it can be assumed that the crypto increases, also due to a decline in the dollar. And, in my opinion, when the dollar goes down, there is something in the world that is not good.