UBS issues caution on bitcoin

In the near term, crypto prices could climb anew, powered by market momentum, institutional adoption and limited supply.
In the near term, crypto prices could climb anew, powered by market momentum, institutional adoption and limited supply.PHOTO: REUTERS

Strategists at one of the world's largest wealth managers are issuing a warning to newbie crypto investors plunging into the record rally: You could still lose all your money.

Between regulatory threats and central bank-issued competitors, there is nothing stopping a wipeout in big-name digital currencies eventually, according to UBS Global Wealth Management.

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A version of this article appeared in the print edition of The Sunday Times on January 24, 2021, with the headline 'UBS issues caution on bitcoin'. Subscribe