Kadyrov spoke out against cryptocurrencies

The head of the Chechen Republic, Ramzan Kadyrov, does not approve of the increased interest of fellow citizens in cryptocurrency.

Publication “Pravda.Ru,” referring to Kadyrov’s Telegram channel, writes about the head of the republic’s warning against investing in cryptocurrency. According to the leader of Chechnya, the press is heating up the situation, calling cryptocurrency “new gold” and provoking citizens to forget about common sense and start a “sort of Bitcoin fever.” 

He argues that the pursuit of easy profits forces many to invest their last money or take out loans for crypto speculation, forgetting about debt and families.This problem really exists, so we would like to remind our readers that you should only invest or trade with funds that you can afford to lose.

But what confuses Ramzan Kadyrov most of all isthe moral side of the crypto industry. In his opinion, the rise in the price of crypto assets is provoked by the greed of investors, who attract more and more new investors, profiting from their greed. Kadyrov recalls the great risks associated with cryptocurrency. According to his statement, “over the past month, Bitcoin has depreciated by half.”But this statement is not true.... Bitcoin really sank many times, but it held its ground, over the past 30 days it has grown by 1.5% and continues to show positive dynamics.

The interest of residents of Chechnya in crypto-assets is indeed steadily increased. According to the graph of Google Trends search queries, Chechnya is the leader among all regions of Russia.

In the Telegram channel of Ramzan Kadyrov, the entry to which the newspaper refers was not found at the time of publication. 

Subscribe to ForkNews on Telegram