Barclays Private Bank’s official accused Bitcoin as “an almost uninvestmentable asset” with his statements. According to the investment expert, bitcoin becoming more ‘centralized’ may change this situation.
Barclays Private Bank answered the question of whether Bitcoin is suitable to invest, according to Financial News. According to Barclays’ chief strategist, Bitcoin is an “almost uninvestigable” asset. This name thinks bitcoin is neither suitable for pension funds nor for high-value portfolios.
“The volatility factor makes Bitcoin uninvestigable”
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 like stocks or oil, cannot be included 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 the 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.
Moser acknowledged that the number of institutional investors buying cryptocurrencies started to increase, but said that this number was exaggerated. It was stated that a limited number of qualified investors bought bitcoin and these were very small in number.