Park Hyun-joo Criticizes Bitcoin Investment Methods

Park Hyun-joo, chairman of Mirae Asset Group, publicly criticized the practice of investing in Bitcoin (BTC) through loans. During a meeting with employees of DigitalX at the Four Seasons Hotel in Seoul on the 26th, he stated, "Very few people have made money with Bitcoin. It's almost at the level of financial ruin." He expressed his inability to understand why people would invest in Bitcoin by taking out loans, emphasizing that "you shouldn't do that with stocks either." Chairman Park added that no asset should be traded in such a manner. His remarks came during a session where Mirae Asset Group explained the direction of DigitalX. He also criticized the practice of listing altcoins on cryptocurrency exchanges, pointing out that buying and selling based on short-term price fluctuations of specific assets is risky. Park stated, "We will diversify investments globally," and indicated that he would present clients with other investment options that can generate returns beyond virtual assets. Additionally, he emphasized the long-term nature of stock investments, saying, "Even if you incur losses, you should nobly bear the losses at Mirae Asset." He also proposed a plan for an additional capital increase of up to 300 billion KRW for DigitalX, although this statement is based on the premise of achieving profitability.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.