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Kingsley Moghalu Likened the Crash in Bitcoin to Regular Occurrence Witnessed in the Stock Market

Amy Liu

Summary: A former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, likened the crash in Bitcoin to regular occurrence witnessed in the stock market. He said same outcome has been recorded in other financial assets as investment remains a risk. “Cryptocurrency is taking a beating in financial markets. This is the case for ...

A former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, likened the crash in Bitcoin to regular occurrence witnessed in the stock market. He said same outcome has been recorded in other financial assets as investment remains a risk.

“Cryptocurrency is taking a beating in financial markets. This is the case for most financial assets such as company shares on stock exchanges. It’s always a risk, but in Nigeria it remains a hedge against inflation and naira devaluation for many. This dip may be time to buy.” Moghalu said.

By Amy Liu

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