Opinion: Regulators Will Stop Bitcoin Music

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Pascal Blank, the investment director of one of the world’s largest asset managers, Amundi, said governments and regulators will “stop the music” for Bitcoin. Reported by Reuters.

The top manager of the French company, which manages assets worth over € 1.7 trillion, called cryptocurrencies a “farce” and a symptom of bubble formation in financial markets.

 

“Bitcoin will be remembered for pushing central banks to adopt digital money. Governments and regulators will eventually stop music, ”Blank said.

 

According to him, it was much more important for investors to build up their positions in yuan and then diversify into cryptocurrencies.

In March, Amundi, which is second only to Allianz in terms of assets in Europe, published a study of the cryptocurrency market. In it, they noted the low liquidity of digital assets and the possibility of a collapse in quotations due to strict regulation.

In their opinion, the operational stability of decentralized systems raises questions, while the use of cryptocurrencies as a means of payment can destabilize the financial system.

Earlier, Gemini CEO Tyler Winklevoss expressed confidence that Bitcoin has reached too high a level of adoption to be subject to a regulatory ban even in the United States, which largely determines the global rules for financial markets.

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