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Celsius Crisis Could Cause 'Cascading' Price for Bitcoin, Cryptos Warns Simon Dixon
Celsius Crisis Could Cause 'Cascading' Price for Bitcoin, Cryptos Warns Simon Dixon
ratings:
Length:
28 minutes
Released:
Jul 7, 2022
Format:
Podcast episode
Description
The crypto lending industry, "has created a 2007-style systemic risk event, similar to Lehman Brothers, but built upon digital hard sound money," asserts Simon Dixon, CEO & Co-Founder BnkToTheFuture.com. He describes to our Daniela Cambone that the crypto lender Celsius was pitched to many people as, "a low risk saving account, when actually in fact, it was a high risk security." Dixon shares how he has been rallying the support of the community surrounding Celsius, by providing "better solutions" for a way forward. A doomsday bankruptcy scenario for the company would cause, "cascading liquidations [of cryptos]," where bitcoin would be unfazed, he continues. "I don't care how low the price goes for bitcoin because the fundamentals never change," Dixon argues. He concludes by sharing a heartfelt reason why he felt compelled to help those affected by the current Celsius crisis, and encourages investors to learn from this situation, "have a long-term perspective, get on the right side of trends." Learn more about suicide prevention below and navigating through financial difficulties: American Foundation for Suicide Prevention: https://afsp.org/ SuicideLine Victoria: https://suicideline.org.au/thinking-a... #celcius #cryptonews #mentalhealth
Released:
Jul 7, 2022
Format:
Podcast episode
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