Coinbase CEO, Brian Armstrong, cautioned potential bitcoin (EXANTE: Bitcoin) investors over rash financial decisions based on BTC's price surge. Armstrong said in a recent blog post that users should consult financial advisors first "to better understand the risks associated with investing in cryptocurrencies."
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"For those who believe in the potential of crypto, we also all have to believe that we are still in the very early stages and that there is a lot more to come," he added.
Coinbase's CEO emphasizes the cryptocurrency market is unpredictable and can move in any direction "much faster than equity markets." Bitcoin, meanwhile, continues its explosive growth and as of press time is trading at $23 670 (with market cap over $430 billion).
Earlier in November, Coinbase disabled its margin trading service due to the recommendations of the US Commodity Futures Trading Commission (CFTC). Trading with margin or leverage allows users to use leveraged funds in order to increase the size of positions, resulting in greater gains or losses.
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