Mirae Asset's Park Warns Against Borrowing to Buy Crypto: Limit Exposure to 10%

Mirae Asset's Chairman Park Hyeon-joo has cautioned against borrowing money to invest in cryptocurrencies, warning that it can be 'almost ruinous'. He emphasized that investors should limit their cryptocurrency exposure to about 10% of their total assets.

Park made these remarks during a meeting with DigitalX employees on August 26 at the Four Seasons Hotel in Seoul's Jongno district. When discussing investing in cryptocurrencies, he noted that 'not many people have actually made money from investing in Bitcoin'. He also highlighted the risks associated with buying highly volatile assets with borrowed money.

Park expressed his concern about this practice not only for cryptocurrencies but also for other assets such as stocks. He emphasized that investors should focus on long-term growth potential rather than short-term trading gains, citing SpaceX as an example of a company Mirae Asset has invested in.