Bitcoin buyers have been issued a "serious warning" from one of Britain's leading financial regulators.
"If you want to invest in bitcoin, be prepared to lose all your money," Financial Conduct Authority CEO Andrew Bailey told BBC's Newsnight.
He added that a lack of backing from governments and central banks, as well as similar risks to gambling, are evidence that the cryptocurrency is not a secure investment.
Bitcoin +5.1% to $17,370, according to CoinDesk.
Related tickers: OTCQX:GBTC, COIN, RIOT, OSTK, SSC, MARA, UEPS, OTC:BITCF, XNET, GROW, OTCPK:BTSC, OTCQB:BTCS, OTCQB:MGTI, SRAX, OTCPK:GAHC, OTCQB:UBIA, OTC:ARSC, OTCPK:USTC, OTCPK:PRELF, OTCPK:BLKCF, OTCPK:CRCW, COINB
Now read: Bitcoin: The Big Short Is Coming »