The prime minister of Thailand has cautioned investors getting into cryptocurrencies, noting that they are volatile and highly speculative. Recently, interest in cryptocurrencies has soared as young investors in the country discovered that they could make money quickly by investing in cryptocurrencies.

Thai Prime Minister Warns About Crypto Investing

Ratchada Thanadirek, deputy spokeswoman for the Thai Prime Minister’s Office, said Saturday that Prime Minister Prayuth Chan-ocha is worried about people investing in cryptocurrencies, particularly young investors.

The warning came as the prime minister learned that Thai people entering the workforce have flocked to invest in cryptocurrencies due to their spectacular returns in a short period of time.

However, the prime minister urged investors to consider the risks of investing in this asset class. He noted that cryptocurrencies have no supporting fundamentals, and they are highly speculative and very volatile.

He also asked parents to be cautious when opening trading…

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Source: https://news.bitcoin.com/thai-prime-minister-cautions-investors-getting-into-crypto-interest-in-digital-assets-soars/