The CEO of UBS bank classified bitcoin as a doubtful asset

by in Cryptocurrency News

UBS bank ceo

According to the CEO of the Swiss bank UBS Ralph Hamers, bitcoin and similar digital currencies should be classified as unverified assets.

At the same time, the financier stressed that the number of UBS bank clients who are interested in cryptocurrencies has sharply increased recently. Many companies and private investors use a variety of channels to enter this market.

Hamers said: “Many clients read about cryptocurrencies in newspapers. But they also observe their volatility. We recommend that you be careful with such tools.”

Trending: Kazakhstan was included in list of the largest BTC miners

In general, bitcoin and other virtual coins should be treated as dubious assets, and their wide range of price fluctuations should be considered. UBS Bank periodically urges its clients to be extremely careful when working with Bitcoin.

In addition, the financial giant believes that investors should form their portfolios from less risky instruments.