Recently, crypto values have risen sharply, and several investment environments have become more interested in the currencies again. Bitcoin is the largest and most well-known cryptocurrency. Now one bitcoin costs around 43,000 dollars, but cost as little as 16,000 dollars at the start of last year. The risk of loss has historically been great in tandem with fluctuations. The Finanstilsynet in Norway has warned people several times that they could be in for a real financial blow if they invest in cryptocurrency. Important approval in the USA In January, there was a small breakthrough for those who want to save in cryptocurrency. One of the reasons for the positive attitude is the introduction of so-called bitcoin ETFs. It was approved earlier this year by the US Financial Supervisory Authority. An ETF is a fund that is made up of various securities, and can be traded on a stock exchange. A bitcoin ETF is a fund that likes to follow the value of bitcoin. This can make it easier to save in bitcoin, which in turn can lead to increased demand and thus a higher price. – I think the approval of these ETFs in the US will contribute to further demand here in Norway as well, says Torbjørn Bull Jenssen. He is a crypto enthusiast and general manager of the crypto brokerage house, K33 in Oslo. Torbjørn Bull Jensen says the crypto market has more to go on after having recovered from a couple of tough years. Photo: Privat The optimism is in sharp contrast to the situation just a couple of years ago. Then a lot went wrong in the crypto market. The market experienced that trading platforms where the money was supposed to be safe were exposed to massive thefts. Several began to doubt whether the market worked. – This is a market that fluctuates wildly. And a market that moves very quickly. Now it is just over a year since the entire industry was on fire, says Bull Jenssen and continues: – One of the biggest players, FTX, went out of business, and everything has also been shaken. Now the rates are on the way up. Warns of risk Hallgeir Kvadsheim is a civil economist and known as a savings economist from, among other things, the TV series Luksusfellen. He reminds that the risk of losing money by investing in cryptocurrency is always present. – Investing in cryptocurrency in general and perhaps bitcoin in particular is risky. You can see that by following the course over the last four or five years, says Kvadsheim. But he still thinks it can be positive to learn about the market, including by investing a little in cryptocurrency. – Because I believe that bitcoin in particular will also be here in ten years, says Kvadsheim. Halgeir Kvadsheim believes young people should start BSU savings and have a buffer account in place, before possibly investing a little in cryptocurrency. Photo: Ole Andreas Laache Klevan Sees a generational change news has previously written about twice as many Norwegians owning cryptocurrency than in 2019. Now 250,000 Norwegians under the age of 40 own cryptocurrency according to a survey by EY and K33. – We see that among the younger people, and especially men, for so long, there are significantly more people who own cryptocurrency and are positive about cryptocurrency than among the older people, says Bull Jenssen. Although the crypto market fluctuates and moves fast, this does not scare the crypto enthusiast. – This is a market that has collapsed again and again, and yet came back stronger each time, says Bull Jenssen.
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Crypto values have previously fluctuated – now the enthusiasts believe that 2024 will be a big year – news Norway – Overview of news from various parts of the country
