Bitcoin News

UBS executive Paul Donovan slams Bitcoin again

Bitcoin is fatally flawed, according to UBS Wealth Management Global Chief Economist and high-profile crypto critic Paul Donovan.

In an interview with CNBC Fast Money, he said: “I think anyone with a high school education in economics has been a Bitcoin sceptic right from the start. These things were never going to be currencies. They’re not going to be currencies at any point in the future. They’re fatally flawed.”

Also this week, Donovan published an internal blog post entitled ‘I come to bury Bitcoin, not to praise it’, in which he argued that “the cryptocurrency bubble may be in its death throes.”

Scott Thompson

Scott has been working in technology and business journalism for nearly 20 years, with a focus on FinTech, retail, payments and disruptive technology. He has been Editor of such titles as FStech, Retail Systems and IBS Journal and also contributed to the likes of Retail Technology Innovation Hub, PaymentEye, bobsguide, Essential Retail, Open Banking Hub, TechHQ and Internet of Business.

Disqus Comments Loading...

Recent Posts

Here is why Bitcoin is still a lucrative investment in 2024

Those who enter the market at this time may be surprised to hear that Bitcoin…

33 mins ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

8 hours ago

The surge of Bitcoin NFTs: Everything you should know about Bitcoin ordinals

From digital art to real-estate assets, NFTs have become a significant attraction for investors who…

1 month ago

MEXC Partners with Aptos to Launch Events Featuring a 1.5 Million USDT Prize Pool

Singapore, Singapore, 21st October 2024, Chainwire

1 month ago