Wealthy Remain Curious But Skeptical About Bitcoin, UBS CEO Says

Wealthy remain curious but skeptical about bitcoin, UBS CEO says

  • Photographer: Chris Ratcliffe/Bloomberg – – UBS Chief Executive Officer Sergio Ermotti said the world’s wealthiest are staying on the sidelines when it comes to crypto-currencies.
  • While JPMorgan Chase & Co.’s Chief Executive Officer Jamie Dimon famously panned bitcoin last month , saying he’d fire traders who bet on it, many financial firms have been exploring ways to leverage the blockchain technology underpinning crypto-currencies.
  • More from Bloomberg.com: The Smartest Americans Are Heading West – – Bitcoin has surged more than 300 percent this year, drawing the attention of hedge funds and wealthy individuals.
  • China cracked down on crypto-currency exchanges in September, while the U.S. Securities and Exchange Commission said in July that sales of some new digital currencies would be subject to rules just as equities are.
  • More from Bloomberg.com: Steel Firm Faked Data for Metal Used in Planes and Cars – – Read Wealthy Remain Curious But Skeptical About Bitcoin, UBS CEO Says on bloomberg.com

UBS Chief Executive Officer Sergio Ermotti said the world’s wealthiest are staying on the sidelines when it comes to crypto-currencies.
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