Bitcoin, the cryptocurrency that was invented to solve the problem of trust has instead created a mutual suspicion culture in the market. As cryptocurrency gains market traction, it is raising concerns among UK investors. For example, Sam Bankman-Fried’s exchange FTX has filed for bankruptcy and could owe money to a million creditors, leaving investors questioning the currency’s basic principle. The rise and fall nature of Bitcoin and other cryptocurrencies signal a lack of stability and trust in the market, making it a risky investment. The situation is made worse by the increasing number of users and exchanges that have faced fraud and hacking attacks. It is thus important for UK investors to exercise caution when investing in cryptocurrency and to understand the volatility and risk associated with such investments.
Read More Here https://www.newstatesman.com/business/2022/11/bitcoin-basic-principle-crypto-problem
