Ralph Hamers, CEO of UBS Group AG, a Swiss-based multinational investment bank, has spoken to Bloomberg TV about the recent earnings of the bank, growth in the U.S., cryptocurrencies and some other stuff.
When the conversation turned to crypto, Hamers admitted that UBS customers ask about digital assets frequently. Some of them have been struck by FOMO ("fear of missing out"). However, according to him, they also see the high volatility that Bitcoin and other major cryptocurrencies have been demonstrating.
Therefore, Hamers recommends that people be cautious when investing in crypto. He has shared the UBS take that cryptocurrencies are just an untested asset category.
When answering a question from the anchor, the UBS chief executive stated that he does not feel FOMO about crypto, nor does he feel FOMO about anything else.
"We feel that crypto itself is still an untested asset category," says UBS CEO Ralph Hamers. He tells @ManusCranny he doesn't have crypto FOMO https://t.co/WoyYpqfqiQ pic.twitter.com/qIwAIejwx7
— Bloomberg TV (@BloombergTV) July 20, 2021
Arman Shirinyan
Alex Dovbnya
