As volatility is becoming present at the extremes of the sideways channel that I talked about yesterday, news that leave the cryptocurrency market in a very bad position start to circulate, for example today there is information about why cryptocurrencies cannot be considered as an investment option.

From my perspective I do not share the vision of the reasons why cryptocurrencies cannot be considered as an investment option, however, I wanted to share with all of you some of the approaches that hover over this controversial debate.

Now then, and in attention to an interview for Fortune, "David Velez, founder and CEO of Nubank, highlighted that 98% of cryptocurrencies cannot be considered as an investment option, however, Bitcoin (BTC), as well as other cryptoassets, are different from all".

According to Velez, "Nubank was late to the cryptocurrency market race as the bank announced its first initiatives in the sector only during the 2020-21 bull run. However, he said the bank is focused on the market and has a different perspective from other companies in the sector, which gives it an advantage in launching products and services."

One fact to note is that "Nubank's involvement in the cryptoasset market began around 2020, when the bank allowed clients exposure to investment funds linked to the cryptocurrency market. Shortly thereafter, later that year, a post on the bank's official blog highlighted the disruptive potential of digital assets, especially BTC"

Now beyond Velez's position, I would like to know your opinion on whether cryptocurrencies really cannot be considered as an investment option?

SOURCES CONSULTED

Cointelegraph. 98% of cryptocurrencies are useless as investments, says Nubank founder. Link

OBSERVATION:

The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph