Pascal Blanque, CIO of Amundi, one of the biggest asset managers in Europe, has stated that bitcoin and other cryptocurrencies are a farce, exposing its skeptical stance on the real value of cryptocurrencies. The investor stated that crypto assets are an expression of markets making bubbles and that investors should focus on other more logical assets.
CIO of Amundi States Cryptocurrencies Are a Farce
Pascal Blanque has declared that bitcoin and similar cryptocurrencies are a farce during a recent news conference, according to a report from Reuters. The skeptic also said that cryptocurrencies were a clear symptom of a bubble-led market.
Blanque, who has been CIO of Amundi and Head of the investment management platforms since 2005, was not shy in professing his incredulity when it comes to the new asset class that bitcoin and other cryptocurrencies have become. However, he did praise them due to the new paradigm these introduced to the economy, making central banks really feel