LONDON—A European Central Bank governing council member said Bitcoin investors should be prepared to lose their entire investment, the latest such warning from a central banker about cryptocurrency volatility.
"As the U.K. authority said a few weeks ago, if people want to invest in Bitcoin they have to be prepared to lose all their money—that's certainly my view," said Gabriel Makhlouf, a governing council member of the ECB.
Earlier this month, the U.K. financial regulator also said Bitcoin investors could well "lose all their money." Bitcoin and other cryptocurrencies are "high-risk, speculative investments," and should be treated as such, the regulator said at the time, Business Insider reported.