UBS chairman warns against bitcoin investment as cryptocurrency falls 12%
by Samuel Gibbs from Technology | The Guardian on (#3E1SG)
Axel Weber says cryptocurrency 'not an investment we would advise' while South Korea bans anonymous trading
Bitcoin has fallen 12% over 24 hours while the chairman of UBS warned against investing in it and South Korea continued to crack down on cryptocurrencies by banning anonymous trading.
Talking at the Davos world economic forum, UBS Chairman Axel Weber, said that bitcoin and other cryptocurrencies were speculative, risky and "not an investment we would advise".
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