Emil Oldenburg, the CTO and co-founder of one of the largest bitcoin sites: bitcoin.com has just sold all of his Bitcoin and explained the interesting reason. Check it out in our articles!
“Bitcoin investment is one of the riskiest investment you can make!”
Bitcoin.com is one of the largest bitcoin sites in the world. This website has grown its popularity thanks to the increase in the price of cryptocurrency. However, recently, one of the co-founders of bitcoin.com: Emil Oldenburg, a Swedish, has shown his extreme scepticism about the Bitcoin’s future. In an interview for with a tech site Breakit, he said that:”I would say an investment in bitcoin is right now the riskiest investment you can make. There’s an extremely high risk.”
The largest problems with Bitcoin are high transaction cost and lead times. To be specific, it takes around 4,5 hours for a Bitcoin transaction. Furthermore, the transaction fees are doubling every 2 months. In addition, the lead times and transaction fees only increase when new investors enter the market that brings quick returns. Although Emil Oldenburg is not the first person to criticize the future of Bitcoin, he has a good reputation in the finance industry.
What would he do after selling all his Bitcoin? “I have in fact sold all my bitcoins recently and switched to bitcoin cash,” he says. Bitcoin Cash is the currency that split from Bitcoin this August. Moreover, this digital Bitcoin Cash currency recently overtook Ethereum as the world’s second-largest cryptocurrency. “If you look at businesses around the world, they’re scrambling to adopt Bitcoin Cash… I’m really concerned with a market right now.”, says Emil Oldenburg.
“Bitcoin Cash is the future” – Emil Oldenburg
Lastly, bitcoin.com is claimed to distance itself from Bitcoin and the service of Bitcoin. Instead, this website will move to the Bitcoin Cash since this virtual currency only costs $0,012 for a transaction and requires no lead times. What do you think about Emil Oldenburg? Drop us a comment to share with us your opinion!