Earlier this week, Bart Chilton, a past financial regulator shared that he wished he had invested in Bitcoin and other top cryptocurrencies back when he was issuing warnings to everyone about investing in digital money.
Chilton, who used to be a commissioner of the Commodity Futures Trading Commission, said that he’d been asking for cryptocurrency regulation for the past 6 years.
He believes that digital money can still be considered the, “Wild West” outside the regulated futures market. However, he also said that the large price fluctuations have, “mellowed out,” for now.
“I wish I had been investing when I told everybody to be careful,” shared Chilton, who is now an owner of both Bitcoin and Ethereum.
Chilton said that many of his friends might have become millionaires if he had not given them the advice to steer clear of investing in digital money.
Many exchange platforms now offer Bitcoin futures trading, including Cboe Global Markets and CME Group.
“There’s a shaking out going on in the digital currency world,” Chilton explained in a recent interview with CNBC. “There’s a lot of craziness out there, but as we go forward on CME and Chicago Board Options Exchange [I think] it is a first step at regularizing.”
The price of Bitcoin and other major cryptocurrencies dropped earlier this week following South Korea’s justice minister announcing that a bill is being put together that will ban all cryptocurrency trading within the country, expressing concerns in regards to digital currencies. However, yesterday the cryptocurrencies began an upward climb again.
Still, many people remain against digital money. Warren Buffett, a billionaire investor recently warned that the current Bitcoin craze is unlikely to end well. And many other financial advisors are telling investors to move forward with extreme caution if they choose to invest in digital money.