Investing.com – The CEO of Twitter (NYSE: Elon Musk) is sure that the collapse of FTX in no way means the failure of cryptocurrencies based on blockchain technology. He said this recently during a Twitter Spaces event attended by nearly a million people.
From his point of view, the FTX debacle was beneficial. What users should learn when using cryptocurrencies is that cryptocurrency exchanges are only suitable for,. Partners for sale or purchase. They are absolutely not suitable for storing cryptocurrencies. To do this, you must use your cold wallet. This is the only way to protect against both bankrupts and hackers:
“I would like to stress again that cryptocurrencies should be held in a directly accessible cold wallet. Not in a stock market.”
When it comes to the future of cryptocurrency, Elon Musk has a very clear vision, as there are three that cannot be ignored:
“I think Bitcoin, Ethereum, and DOGE potentially have a future. As for others, I can’t really say. But if you have one of those three in a cold wallet and you’re not holding it in your wallet I think that has its advantages.”
By Marco Uhrl