By Joe Tidy, News Correspondent

A man who invested in bitcoin has spoken to Sky News about watching his holdings drop by $440,000 in a matter of weeks following the sudden collapse of the cryptocurrency.

 

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Alix, who has no background in finance or computers, dived into bitcoin after reading reports about it in the media.

Alix, who did not want to give his full name, saw the value of his bitcoin drop from almost $600,000 at Christmas to $160,000 this week.

Despite the fall, he says he is confident about his investment, and that he believes bitcoin’s peak is still a long way off.

“I started in September 2017 with about $41,000 invested and it gradually hit almost $600,000 around Christmas, which was awesome. But now it’s $160,000.

“I’m not worried about losing all my money. It won’t vanish into thin air, it will have its peaks and troughs, there is going to be mass influxes and mass exoduses of money.”

 

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