Bloomberg.com --international banking take decision and decided to list bitcoin most risky asset.bitcoin has pushed cryptocurrency further into the mainstream financial world.they also said it is highly costly to sustain bitcoin in banking valance sheet
The only consistency has been the volatility -- it’s been big spikes, tons of enthusiasm, followed by big selloffs,” Ross Mayfield, investment strategy analyst at Robert W. Baird & Co., said of Bitcoin’s moves. “If you believe in it you’re probably to stomach the volatility, but if you’re just in it because it seems like the hot way to get a quick buck, that volatility is going to be hard to deal with
David Tawil, president of ProChain Capital, a crypto hedge fund:
To me, this whole thing, along with the IMF, is just a way for those entities to get involved in the conversation. In terms of putting these requirements it’s going to go ahead, and at least for now, take traditional banks that are traditional regulated by these regulatory entities essentially out of this game and that will allow for more and more alternative players, who are not regulated, to go ahead and to pull further ahead,” he said. “A regulator has very little upside and enormous downside -- it’s like being a policeman. You want to protect people. So the furthest you can go in terms of lodging measures that stop activity, the better. And so, I think that they are for the first time inserting themselves. This certainly does not mean the end of cryptocurrency, the end of Bitcoin.”
**Wells Fargo analyst Mike Mayo said in a Bloomberg TV interview with Matt Miller:
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“It is getting hammered, but you know what? It’s getting treated like any other higher-risk asset like subprime loans, or CDOs, or derivatives, or structured products. And it is a new product. It’s untested through economic cycles. It’s untested through liquidity.”
https://finance.yahoo.com/news/bitcoin-ruling-roils-crypto-world-185048828.html
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