Investing.com – Twitter (NYSE:) CEO 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 at a Twitter Spaces event attended by nearly a million people.
From his perspective, the FTX debacle even helped. What users should learn when using cryptocurrencies is that crypto exchanges are only suitable for , . & Co to buy or sell. They are not really suitable for custody of cryptos. To do this, you need to use your own cold-wallet. This is the only way to protect against bankruptcies and hackers:
“I want to emphasize once again that cryptocurrencies should be kept in a directly accessible cold wallet. Not in a stock market”.
When it comes to the future of cryptocurrencies, Elon Musk has a very clear vision, because there are three that cannot be ignored:
“I think it is likely that Bitcoin, Ethereum and DOGE have a future. For others, I can’t really say. But if there is one of these three in a cold wallet and you’re not going to put it in a wallet. , In I think that has advantages”.
By Marco Oehrl