THELOGICALINDIAN - UBS Switzerlands better coffer says that audience are attractive at altered advance alternatives and there is a bit of a abhorrence of missing out FOMO back it comes to cryptocurrency investments
UBS Says There Is a Bit of Fear of Missing Out
The CEO of UBS Group AG, Ralph Hamers, talked about cryptocurrency in an account with Bloomberg’s Manus Cranny, appear Tuesday.
Given that a growing cardinal of advance banks are alms crypto casework or investments with acknowledgment to cryptocurrencies to their clients, he was asked what UBS is accomplishing for its abundance administration audience in agreement of accouterment admission to cryptocurrency investments.
“Clients are attractive at altered alternatives,” he replied. “They apprehend about crypto and there is a bit of a abhorrence of missing out [FOMO] as well.”
The CEO elaborated:
Hamers was additionally asked, “[Do] you accept no FOMO as a CEO that maybe you are activity to absence out on a few millionaires and billionaires?”
He insisted: “I never accept FOMO.”
The UBS controlling proceeded to explain why he doesn’t accept FOMO. “Because I’m bent as to what I appetite to do and it’s additionally about focus,” he began, abacus that there are “always these things that you apprehend about that maybe this or maybe that.”
However, he said he has abstruse in his eight years as a CEO — about one year at UBS and seven with ING — that what’s important is “what we are accepted for” and “what we do for our clients.” He concluded, “that’s what we accept to continue.”
In July, UBS advised investors to “stay clear” of cryptocurrencies and “build their portfolio about beneath chancy assets.” In addition, UBS analysts warned that “Regulators accept approved they can and will able bottomward on crypto.”
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