🇻🇳 Vietnamese PhD Warns: "BITCOIN COULD COMPLETELY GO TO 0"

According to Dr. Nguyễn Trí Hiếu, unlike fiat currencies such as USD or VND backed by economic fundamentals, #Bitcoin only exists based on algorithms and community trust, therefore if this trust disappears, its value could fall to 0 without any legal mechanisms to protect investors.

Notably, it is estimated that Vietnamese people are currently holding approximately 100 billion USD in crypto assets, with most of it outside the formal financial system, posing significant risks if the market experiences sharp fluctuations or incidents like previous exchange collapses.

In this context, the Government has begun implementing a pilot mechanism for managing digital asset markets, transitioning from a state of "denial" to "control," while clearly distinguishing between virtual currencies without asset backing and crypto assets linked to real value. However, experts believe that without sufficiently stringent legal frameworks, the market could still face major collapses similar to FTX.

This warning is generating considerable debate as Bitcoin is both a major investment opportunity and a high-risk asset, heavily dependent on market sentiment and trust.