Jason Kander, an American politician from the state of Missouri and a member of the Democratic Party, also working as Missouri Secretary of State and the youngest statewide elected official in America, has shown his concern about the safety of investments in Bitcoin. Recently, he said that there are apparent risks in investing in Bitcoin.
According to Jason Kander the risks in dealing with Bitcoin and other digital currencies are higher and for that investors should be careful. He also suggested that the past experiences show that there have been several incidences that have left an impression that the Bitcoin market can heavily be used for money laundering activities. .
In his statement to media State Secretary Jason Kander said that with digital currency or any other emerging investment opportunity, the safest approach is to be cautious. It’s important to recognize that in many cases not even the supposed Bitcoin and digital currency experts know enough about the product to help you make a fully informed investment decision.
He also added that it’s best to rely on only the most reputable sources of information and do your own due diligence before investing in potentially risky products. According to him citizens investing in Bitcoin should take care of these factors before investing and should not be lured by the tempting promises of instant benefits.
The Statement Seems an Ill-Informed One, Say Bitcoin Experts
Jason Kander assumes that Bitcoin is a short term investment that people get into to make a few quick dollars, then drop out. The message from the US politician has not been received well by Bitcoin supporters who say that he has failed to understand is that Bitcoin is not just meant for investment but for financial transactions as well.
Only a small portion of customers use Bitcoin for investment purposes and it is unlike gold which is used primarily for investment purposes. According to some experts Bitcoin is an innovative solution to modernize and replace the way older, government influenced, currencies work for the modern age.
As Bitcoin has established itself and being accepted as a decentralized currency that can transform the existing fiat for technical superiority, the statement from Jason Kander seems an ill-informed one. Though volatility is an issue, those who know the digital currency market and its emergence, say that it will subside after a decade.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org