During today’s press conference, Pascal Blanque, chief investment officer at Amundi, said that governments and regulators will “stop the music” for Bitcoin, Reuters reports.
Blanque believes that Bitcoin’s only legacy will be accelerating the adoption of central bank digital currencies:
Bitcoin will be remembered for pushing central banks to adopt digital money.
The executive also dismissed the top cryptocurrency as “a farce” while warning about market bubbles.
In March, Blanque mentioned that there would be “something left from crypto” but also took note of “bubbling times.”
Related
Systemic risks
In its recent research paper, Amundi—the second-largest European asset manager—claims that cryptocurrencies could be potentially destabilizing.
It states that the resilience of such decentralized systems remains questionable.
In addition, the paper mentions that buyers do not tend to discount any regulatory risks, which could result in a “brutal” price adjustment.
Disclaimer: The opinions expressed by our writers are their
own and do not represent the views of U.Today. The financial and market information
provided on U.Today is intended for informational purposes only. U.Today is not
liable for any financial losses incurred while trading cryptocurrencies. Conduct
your own research by contacting financial experts before making any investment
decisions. We believe that all content is accurate as of the date of publication,
but certain offers mentioned may no longer be available.
