“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals. They are hence highly risky as investment products, and certainly not suitable for retail investors,” he warned
SINGAPORE: What president-elect Tharman Shanmugaratnam has said in the past concerning cryptocurrency has emerged on digital currency news sites in the wake of his overwhelming win on Friday .
In his capacity as chair of the country’s central bank, he had occasion to comment on digital currencies, which became popular during his stint. In a similar vein, Cointelegraph, a media site on fintech and crypto assets, wrote on Sept 5 that Mr Tharman had said two years ago that crypto assets are highly volatile” and “highly risky as investment products.”“Cryptocurrencies can be highly volatile, as their value is typically not related to any economic fundamentals. They are hence highly risky as investment products, and certainly not suitable for retail investors.
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