Bitcoin bubble could lead to 'destructive' consequences, UBS says

Bitcoin bubble could lead to 'destructive' consequences, UBS says

6 years ago
Anonymous $1bh8zaeyQS

https://www.cnbc.com/2017/12/12/bitcoin-bubble-destructive-consequences-ubs-says.html

The bitcoin bubble could be "destructive" in the long term if more people keep pumping money into the cryptocurrency, UBS analyst Paul Donovan told CNBC on Tuesday.

UBS has previously called bitcoin a "speculative bubble." And Donovan, who is the wealth management global chief economist at the investment bank, has compared the cryptocurrency's rise to the 17th century tulip craze in the Netherlands that saw the price of the flower skyrocket and crash.