Former US Regulator Regrets He Didn't Buy Bitcoin Earlier

January 12, 2018

Former US Regulator Regrets He Didn't Buy Bitcoin Earlier

Recently, more and more people have begun to admit that they were wrong about Bitcoin and other cryptocurrencies. Perhaps the most famous of them is the head of JPMorgan Chase Jamie Dimon, but there are other ones too. For example, a former member of the Commodity Futures Trading Commission Bart Chilton who said that he regrets that he had not invested in cryptocurrencies at the time when he advised everyone to be cautious.

Chilton, who was a commissioner from 2007 to 2014, had been urging to regulate cryptocurrencies since 2012. Now he wishes he was insightful enough to invest earlier. However, he says that today he owns BTC and ETH.

Chilton said in the interview with CNBC:

"I wish I had been investing when I told everybody to be careful. I had a lot of my friends that said, 'You told me not to invest.' They would have been millionaires."

He believes that Bitcoin futures traded on CME Group and CBOE platforms will make the market more stable:

"There's a shaking out going on in the digital currency world. There's a lot of craziness out there, but as we go forward on CME and Chicago Board Options Exchange [I think] it is a first step at regularizing."

While Chilton and Dimon already admitted they were wrong, there are some financial market representatives that still stand their ground. One of them is a billionaire and the third-richest man in the world Warren Buffett who called Bitcoin a bubble in November and haven't changed his opinion since. Recently, he predicted that cryptocurrencies will eventually come to a bad ending.

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