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UBS CEO Has No Bitcoin FOMO, Says Crypto Is Untested Asset Category

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Tue, 07/20/2021 - 10:32
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Yuri Molchan
UBS chief Ralph Hamers warns FOMOed customers to be careful with cryptocurrencies
UBS CEO Has No Bitcoin FOMO, Says Crypto Is Untested Asset Category
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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.

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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.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.