UBS Boss Hits Out at Bitcoin – ‘It Is Only a Transaction Currency’

[kreslik.news]

UBS Group AG Chairman Axel Weber, the former president of Germany’s Bundesbank, has played down the potential of crypto-currencies such as Bitcoin, joining several senior bankers who recently announced they are not fans of the digital asset class.

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But although Weber believes that Bitcoin’s prospects as a currency are bleak, he said its blockchain holds promise.

His comments were made during a conference organized by the Swiss Finance Institute. He said that bitcoin’s shortcomings as a currency stems from ... (read more)