"Bitcoin worse than casino gambling"

As an investment bitcoin is less predictable than playing roulette in a casino, and unqualified investors shouldn't have access to instruments with such a high volatility, according to Russian Economic Development Minister Maksim Oreshkin.

"As for bitcoin, if you look at how the value of this asset fluctuates, it's dozens of percent up, then dozens of a percent down. An asset that can be available for an unqualified investor should not have such characteristics because it's worse than casinos. First, you earn, then you will lose everything and be left with nothing," Oreshkin said on Tuesday during the session of the World Festival of Youth and Students in Russia's Sochi.

"Those who do not know how to manage risks in instruments with such volatility, should not be able to invest because in 99.9 percent of cases it results in losses for such people and then...