Russian Duma deputy says Bitcoin is among the worst investments

The rapid rise of Bitcoin makes it hard to assess its real return. This is the view of Anton Gorelkin, a deputy in the State Duma of the Russian Federation, who writes REGNUM.

According to the lawmaker, the leading cryptocurrency is a poor asset for investment:

“The arithmetic tells us that from December 2017 to mid-December 2020 Bitcoin delivered a return of 3.8%. That’s over three years. One of the worst assets for investment — any economist will tell you so,” he noted.

Gorelkin expects that after the explosive rise Bitcoin awaits an equally impressive fall:

“The year 2020 did not meet the expectations of holders and developers of cryptocurrencies. With the failure of Durov’s ‘Gram’ and Zuckerberg’s ‘Libra’, it became clear that crypto money remains neither normal money nor stores of value. The only thing they are good for is speculative play,” the official said.

He added that cryptocurrency remains the main payment method of the darknet:

“Perhaps the future lies with crypto. But in this year it certainly has not arrived,” the deputy concluded.

Earlier, Chris Thomas, head of the digital assets department at the Swiss online bank Swissquote, named the most safe investment strategy in cryptocurrencies in 2021 the purchase and storage of a small portfolio of Bitcoin and Ethereum.

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