"Corporate hoarding of virtual assets similar to the subprime mortgage crisis"

Son Min

Summary

"The spread of companies hoarding "virtual assets" on a large scale could trigger a financial crisis similar to the 2008 "subprime mortgage" event."
"It pointed out that companies' hoarding of "Bitcoin" and other virtual assets could, due to future forced sales, further deepen market downturns."
"Warned that virtual asset hoarding carries various potential risks, such as "cybersecurity" and "cash flow generation"."

The spread of companies hoarding large amounts of virtual assets (cryptocurrencies) could create a situation similar to the subprime mortgage (bad home loan) crisis that triggered the 2008 global financial crisis.

On the 31st (local time), Yosif Lupena Milo, CEO, told Cointelegraph in an interview that "companies' hoarding of Bitcoin (BTC) and virtual assets is similar in form to the housing mortgages that caused the 2008 financial crisis," adding, "forced sell-offs by these companies in the future could further deepen the market downturn."

He also criticized, "Corporate virtual asset hoarding harbors potential risks in various respects, such as cybersecurity and cash flow generation," and said, "People are designing inherently sound products in dangerous ways."

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