much as he does with most things that are new, but that he was not willing to pooh-pooh it, echoing remarks he made earlier this. He added: Bitcoin presents a number of challenges. By, deputy markets editor, credit Suisse Group AG, cS, -1.04. Bitcoin has seen a more-than-sevenfold increase so far in 2017. Outside forex strategies revealed the banking sector, Ray Dalio, founder of Bridgewater Associates, the worlds largest hedge fund, in September said that cryptocurrencies like bitcoin met his firms criteria for a market bubble.
Featured image from Flickr africa Progress Panel. Tidjane Thiam image via Credit Suisse/Flickr, the leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
Speaking at a press conference in Zurich, Credit Suisse CEO Tidjane Thiam stated that the bank 2019 list of big companies that accept bitcoin believes the bitcoin price is the very definition of a bubble: From what we can identify, the only reason today to buy or sell Bitcoin is to make money. JPM, -0.83, chief Executive Jamie Dimon, who in September called bitcoin a fraud and compared cryptocurrencies with the 17th century mania over tulip bulbs, an episode viewed as textbook market bubble. On the other hand, some arent as dismissive of bitcoin. The CEO expressed caution as interest in bitcoin could eventually subside. Among them are Berkshire Hathaway CEO and billionaire investor Warren Buffet, who warned theres a real bubble in bitcoin as, according to him, the cryptocurrency cannot be valued because it isnt a value-producing asset. Btcusd,.64 soared beyond 7,300 for the first time as it and other major digital currencies continued a 2017 tear thats drawn increasing scrutiny from Wall Street, regulators and investors.
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