ВТС Too Unstable and Limited to Be Payment Means
August 6, 2018
Members at one of the Switzerland’s largest investment banking companies named UBS are convinced, ВТС can be regarded neither viable asset nor medium of payment for goods and services today.
UBS strategy department presented a study report to show that the major digital currency “falls short of criteria that need to be satisfied to be considered money”.
The authors of the document do not deny the possibility of BTC becoming the asset to fit under the mentioned standards given some amendments and changes in the crypto sector.
The strategists also point out that with increased scalability and world regulator cooperation the major cryptocurrency is very likely to become “a viable payment mechanism and/or a legitimate asset class in which even the most conservative and traditional investors can participate”.
The summary in the report is based on comparing BTC with a number of macroeconomic signs and classifying it as some kinds of assets. For instance, the report regularly draw parallels between BTC and PayPal: certain popularity of online payments can influence directly the spread of Bitcoin and other cryptocurrencies.
Noteworthy is that the bank has already used to voice its cautious view on digital currencies. Last year the company’s another report called them “speculative bubble” due to high growth rates of all popular cryptocurrencies.