Russian State Duma deputy called bitcoin one of the worst investments

State Duma deputy Gorelkin considers Bitcoin a bubble that can burst at any moment, and does not adviseinclude it in your investment portfolio.

According to the official, Bitcoin's return over the last three years (from December 2017 to December 2020) was only 3.8%, which is considered a very low figure for an investment asset. 

He does not advise investing in Bitcoin andbelieves that the cryptocurrency market is too volatile and unstable. The rapid growth of the flagship cryptocurrency will be followed by the same rapid collapse, which has already happened more than once, the official notes. 

The rapid ups and downs of bitcoin make it difficult to assess its real value and are too unpredictable in the opinion of the deputy.

“All this has signs of a kind of pyramid, sincethe cost of bitcoin rises exclusively with the growth of its dollar capitalization. Many well-known fraudulent schemes worked on the same principle. Cryptocurrency assets are still neither normal money nor store of value. I do not think that against the background of the rise in the value of bitcoin, something will change "

The MP believes that Bitcoin is actively usedin criminal activities and associated with the darknet. In his opinion, cryptocurrency may become a popular means of payment in the future, but not in the next year. 

Meanwhile, major tech stocksCryptocurrency and mining companies have achieved record returns this year. Institutional investors continue to add crypto assets to their investment portfolios.

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