Crypto crash: Blake Masters urges investors to 'buckle up' for 'exceptionally volatile' market

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During an interview on “Mornings with Maria” Arizona Senate candidate Blake Masters said investors should be prepared to face the exceptional volatility of cryptocurrencies, calling it the ‘Wild West.’

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Bitcoin is down about 50% from it’s all-time high in November (REUTERS/Benoit Tessier/Illustration/File Photo / Reuters Photos)

BLAKE MASTERS: Well, you know, it’s not like it’s only crypto that’s crashing, right? Unfortunately, everything is crashing. This is the Joe Biden economy. But it’s true, crypto’s exceptionally volatile. I always tell people only get involved only by bitcoin if if you’re ready to buckle up and weather the storm because this is the wild west. You know, I think this technology is important and cryptocurrency decentralized financial technology. And we need some innovation here because we’ve got a corrupt and inefficient banking system. It’s true that bitcoin’s down big, almost 50% right in the last two weeks. But let’s put it in perspective. You know, it’s up 10x still in the last two years. And so there’s an acronym in the Bitcoin community, HODL, self-conscious misspelling of hold. And it means when you get involved with this thing, maybe buckle up and be ready because you’re going to have some volatility. That’s what we’re seeing now. 

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