The Swedish co-founder of explains why he has sold all his bitcoins

Emil Oldenburg, the CTO and co-founder of is extremely skeptical about the Bitcoin’s future.

I would say an investment in Bitcoin is right now the riskiest investment you can make. There’s an extremely high risk. Emil in an interview with Breakit.

He is not the first one to criticize Bitcoin though his statement came in as a huge surprise considering he is the co-founder of Bitcoin.

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I have in fact sold all my Bitcoins recently and switched to Bitcoin cash

One of the issue Oldenburg had with Bitcoin is the high transaction costs and the lead time. As the Bitcoin prices are increasing rapidly. the transaction fees are also doubling every second month and it typically takes around 5 hours to confirm a transaction.

When people realize how Bitcoin works, they will start to sell

Oldenburg wants to convey the message that people think Bitcoin is a great investment but they have only bought it, they have not sold or traded with it yet and that is where the problem is.

Via: Business Insider

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Written by Hisham Sarwar

That is all you ever need to know about me but let me warn you, freelancing for me is a journey, certainly not a destination :)