Despite the biggest day of trading in Bitcoin, which rises to $ 14,000, the British bank Coutts is the largest bank in the world. ; away from cryptocurrency
the telegraph analyst Lilian Chovin said virtual currency speculative asset that n & # 39; a tangible value.
"His meteoric rise recalled memories of the Internet bubble at the turn of the century."
"Our view at Coutts is that, as an investment asset, electronic currencies like Bitcoin only have the feeling to support them."
Chovin added that Bitcoin's dominant atmosphere was highly skeptical, mainly because of capital gains made by early investors.
Another concern is the inability to predict what the future holds for virtual currencies in terms of government legislation and regulation:
"They are vulnerable to government sanctions and lack the kind of data we are looking for to value, so we do not currently have any plans to include them in our investment strategy. "
Ironically, Analyst noted the potential applications of Blockchain technology as something that the bank is very attentive to.
According to Chovin, Coutts could potentially invest in other industries that are finding innovative ways to ### Blockchain technology:
"In our opinion, the development of Blockchain technology, which is called" cryptocurrencies "like Bitcoin, is an area much more interesting to watch. "
" This new technology has the potential to disrupt any area where there is the need for secure and transferable recordings. "
Launch of Eye on Futures
While most banks have kept their distance from cryptocurrencies, there is no doubt that they will monitor the launch of future Bitcoin by CBOE and CME in the next two months.
Trade will pave the way for less ambitious institutional investors – and their success and failure will be scrutinized by the rest of the financial world.