Bitcoin ‘bound to collapse sooner or later‘, warns Russian lawmaker behind pro-crypto rules
Bitcoin will eventually fall and take Russia’s burgeoning crypto mining industry down with it, says the lawmaker responsible for creating the country’s crypto regulation.
The comments came from Anatoly Aksakov, head of the State Duma’s Committee on Financial Markets.
Aksakov was responding to Russian experts who told the Russian Parliamentary Gazette that Bitcoin prices would not rise in the near future, and could drop to $40,000 next year.
“I’ve always had reservations about this sector, since cryptocurrency is not really backed by anything,” Aksakov told the Parliamentary Gazette.
“It’s a type of hype that grew out of people’s fascination with computers and the opportunity to make money by connecting…
