Another day, another record – bitcoin hits $7,340 yesterday. Credit Suisse CEO: Bitcoin the ‘Very Definition of a Bubble’
Credit Suisse Chief Executive Tidjane Thiam on Thursday expressed caution about Bitcoin, saying the current interest in the crypto-currency could eventually subside, the New York Times reports.
„Bitcoin presents a number of challenges. The first of them is really the anonymity,” Thiam told a results news conference. „I think most banks in the current state of regulation have little or no appetite to get involved in a currency which has such anti-money laundering challenges.
„From what we can identify, the only reason today to buy or sell Bitcoin is to make money, which is the very definition of speculation and the very definition of a bubble.”
Thiam joins a growing list of financial industry names who have come out against the digital currency. Last week, billionaire investor Warren Buffett was the most recent to say bitcoin was in a bubble. He echoed Bridgewater Associates founder Ray Dalio, who expressed the same sentiment to CNBC in September.
At the time, Dalio noted that the speculation and volatility around bitcoin prevented it, in his eyes, from being an effective store of wealth.
Meanwhile, Bitcoin rocketed above $7,000 for the first time on Thursday, after a more than sevenfold increase in its value since the start of the year.
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
