‘This storm will do some damage’: Irish expert on a tumultuous week for crypto

Donal O’Mahony, the Trinity professor some believe invented bitcoin, said it could take a month for the turbulence affecting cryptocurrencies to right itself

The world’s most widely used cryptocurrencies have tumbled in value in recent days. Picture: Getty

As cryptocurrencies plunge, wiping hundreds of millions from the wealth of the market, a leading Irish expert has said it could take up to a month for the turbulence affecting the sector to right itself.

But Donal O’Mahony, a professor at Trinity College Dublin, said he did not believe the crypto “storm” posed an existential threat to the future of crypto or decentralised finance.

O’Mahony, an expert in cryptography and a man some believe was central to the development of bitcoin, said Irish investors should remember that investing in crypto was an “extremely high-risk business”.