24 November 2017 00:00, UTC

Institutional investors are not trusting Bitcoin and cryptocurrencies, sometimes even telling this is not a real currency. While the latest person who speaks out on the theme, Ulrich Stephan from Deutsche Bank, does not call Bitcoin a fraud and does not question its right to be an investment opportunity, he also does not recommend investors to put their money into it. There is too much volatility on cryptocurrency market, stressed the Chief Strategist of the aforementioned bank.

Interestingly enough, another member of the same financial establishment reportedly predicted the end of the fiat money era. As he told in the research paper at the beginning of this month, “although the current speculative interest in cryptocurrencies is more to do with blockchain technology than a loss of faith in paper money, at some point there will likely be some median of exchange that becomes more universal and a competitor of paper money”. Looks like he was only considering the theoretical possibility, while his corporation strategists are actually much more careful about cryptocurrency investments.

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