G.Moser “Bitcoin is not reliable”
Barclays Private Bank Chief Market Strategist Gerald Moser said that it is almost impossible to predict the future chart Bitcoin will draw. According to Moser, it is not reasonable to invest in bitcoin as such.
“Bitcoin, which has far greater market volatility than assets such as stocks or oil, cannot be in any portfolio that way.”
Giving an example from the stock markets, the investment expert said that bitcoin is not a reasonable option for long-term investment.
‘Bitcoin price resembles a bubble’
It was stated that the rise in bitcoin price was triggered by “individual investors” in the long run and it resembled a bubble. It was stated that this rise could not be sustained and its role in the corporate investment world was smaller than expected.
Geralde Moser (Barclays) acknowledged that the number of institutional investors buying cryptocurrenciesd has started to increase, but said that this number is exaggerated. It was stated that a limited number of qualified investors bought bitcoin and these were very small in number.