● Cryptocurrencies like bitcoin are in a "speculative bubble," according to UBS.
● The investment bank said that it is "highly doubtful" that these will ever become mainstream currencies.
● But blockchain technology could have a "significant impact" on many industries, UBS says
We have to realize that it's a bank saying those things. Bitcoin and other cryptocurrencies threaten the profits and the very existence of banks, so of course they're going to speak against their adoption.
As for being in a bubble, that's a debatable point. From a certain perspective, we can say that they are not in a bubble. In fact, the continued growth of cryptocurrencies indicates that they are still UNDER-valued.
On the other hand, all fiat currencies are definitely overvalued, and part of a worldwide money bubble. They will crash / burst before cryptos.
Welcome to Steemit, and Full Steem Ahead.
Thanks
My thoughts exactly.