Wealth managers are warning their clients the risks are currently too great to invest in bitcoin - though they remain interested in the potential of the underlying blockchain technology.
Bitcoin became the fastest growing asset in the world in 2017, with its price rising by around 1,500% over the course of the year to reach highs of nearly $20,000. But prices are notoriously volatile and the cryptocurrency has had a bumpy start to the new year and now trades at $14,129 at the time of writing. Guy Stephens: When investing and speculating intertwine Comparisons have already been drawn with past market bubbles, such as Tulip Mania in the 17th Century and the dotcom bubble that finally burst in 2000, forcing a response from regulators. The Financial Conduct Authorit...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
