UBS CIO: We are not involved with Bitcoin
UBS CIO: We are not involved with Bitcoin

The financial services giant UBS does not intend to deal with other Bitcoin or crypto currencies, one of the official.

In an interview with Bloomberg, UBS Chief Investment Officer Mark Haefele said that the lack of government oversight and the “critical mass” around the encryption currencies, the company – the largest bank in Switzerland – keeps the market.

Haefele also said that the idea that the government could take action against Bitcoin, citing its possible use for terrorist financing, also has the prospects of UBS to interfere silenced.

He told Bloomberg:

“All it needed was a terrorist attack in the US, which was funded by Bitcoin can allow the regulator to intervene much more seriously and take action from the US This is a risk, a non-quantifiable risk, Bitcoin has no currency. ”

Since Bitcoin is not sponsored or sponsored by a government, it can be used to avoid surveillance, he argued. However, Haefele added that he does not believe this situation will last.

He went on to say that the predominant issue of investing in anything is when it comes out and asks, “How do you know then, when you exit a Bitcoin investment?”

Haefele is not the first UBS member to comment publicly on Bitcoin. The company’s chief economist, Paul Donovan, Bitcoin compared in a series of tweets earlier this month with the Dutch tulip mania of the 1637th

And the CEO of UBS, Sergio Ermotti, CNBC said last month that it is blocking the chain much more optimistic than the encryption currencies.

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