Former U.K. chancellor of the exchequer Lord Hammond has reportedly warned about investing in cryptocurrencies. He said, “It’s gambling money,” noting that “people should be extremely cautious” and “Many regard them as closer to gaming than serious investing.” Nonetheless, he is currently serving as a senior advisor to a crypto firm.
Former British Chancellor of the Exchequer Warns About Investing in Cryptocurrency
Former British Chancellor Lord Philip Hammond has reportedly urged investors to be “extremely cautious” about investing in cryptocurrencies, including bitcoin and ether.
Lord Hammond was a U.K. cabinet minister who served as the chancellor of the exchequer from 2016 to 2019, foreign secretary from 2014 to 2016, and defense secretary from 2011 to 2014. He joined the House of Lords in July last year.
Commenting on whether one should invest in cryptocurrencies like bitcoin, he told The Mail on Sunday: “If a member of my family was asking me, I think what I’d do is draw their attention to the fact that large and reputable established asset…
