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A bitcoin industry expert has warned against investing to bitcoin cryptocurrency, citing the “volatile” nature of its value.
During a forum on cybersecurity and internet of things called PiliPINASCon 2018 on Wednesday, Miguel Cuneta, co-founder and chief community officer of Satoshi Citadel Industries, Inc., said that while bitcoin continues to be a “growing industry” with its value ranging from $1,000 up to 10,000, it remains to be an “unstable” industry.
“Cryptocurrency is a new technology… But you know if you’re going to invest on it to become rich I don’t recommend that,” Cuneta said.
“All this time, the value is going up but it’s very volatile,” Cuneta added.
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The Satoshi executive has been involved in the bitcoin industry since early 2013 and he is regarded as one of the trailblazers in the industry in the Philippines after he co-founded Bitmarket.ph and Rebit.ph.
Despite his background, he reminded possible investors that investing in bitcoins would be a great risk.
