#FINANCIAL_LITERACY

Now some experts believe a Bitcoin collapse is coming. Let’s take a look at what they have to say below.

Bitcoin Collapse Coming?

“Private money usually collapses sooner or later. And sure, you can get rich by trading in bitcoin, but it’s comparable to trading in stamps.” — Riksbank Governor Stefan Ingves, Investing.com

“Quantum computers, expected to be operational by around 2026, will easily undermine any blockchain security systems because of their power. Blockchains are effectively fundamentally flawed if they don’t address the oncoming quantum age. The grownups in the room know what’s coming.” — Arqit founder David Williams, Forbes

“We were planning to go live in a few weeks, so we reached out to the SEC to give them a friendly heads up and briefing. They responded by telling us this lend feature is a security. Ok – seems strange, how can lending be a security? So we ask the SEC to help us understand and share their view. We always make an effort to work proactively with regulators, and keep an open mind. They refuse to tell us why they think it’s a security, and instead subpoena a bunch of records from us (we comply), demand testimony from our employees (we comply), and then tell us they will be suing us if we proceed to launch, with zero explanation as to why.” — Coinbase (NASDAQ:COIN) co-founder and CEO Brian Armstrong.