Cryptocurrency prices may be on a tear, and Bitcoin (BTCUSD) may have found favor with institutional investors, but the U.K.’s Financial Conduct Authority (FCA) still isn’t convinced that cryptoassets are a safe investment.
The agency, which oversees financial markets in the United Kingdom, has warned consumers that “they should be prepared to lose all their money” if they invest in cryptocurrencies or in investments linked to them. “Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money,” the FCA wrote on its website.
Bitcoin and crypto prices have set new records in the past month amid renewed attention and positive statements about their potential from institutional investors. According to some reports, retail investors have also begun investing in cryptocurrencies to profit from the rally. Read more…..
Chart of the Day
Blockfi Co-Founder Flori Marquez discusses the outlook for crypto in 2021 with Yahoo Finance’s Zack Guzman.