THE co-founder of one of the largest bitcoin websites has sold his entire stash, saying the currency is “virtually unusable”.
BITCOIN entrepreneur Emil Oldenburg is getting out.
In an interview with Swedish website Breakit, the co-founder and chief technology officer of Bitcoin.com — which offers various services including mining, currency exchange and wallet storage — warned very high fees and long transaction waiting times had made bitcoin “virtually unusable” as a currency.
“An investment in bitcoin right now I would say is the most risky investment you can make. It is an extremely high risk. I’ve actually sold all my bitcoins recently and switched to bitcoin cash,” he said, referring to the bitcoin ‘fork’ designed to allow for faster, cheaper transactions.