UBS Chief Executive Officer: The rich are interested in the investment in Bitcoin but are not ready for investment

Sergio Ermotti, CEO of UBS AG, says wealthy investors are interested in Bitcoin and encrypted money assets, but are not yet making a major investment in encrypted money .

Ai Modi face interview with Bloomberg News, said Bitcoin, Ethernet Square and other encryption currency performance, has attracted wealthy UBS customer interest, there have not been any for a thriving encryption monetary actual investment and demand.

"It's more curious than investing in real investors," Emmett said in an interview with Bloomberg on Tuesday. "I do not think these wealthy individual customers have any real demand for the current market."

He stressed that investing in encrypted money in the eyes of these rich people is still immature, especially since UBS expects the government to eventually use block-chain technology to issue their own licensed digital currency .

"We think the existing currency may be further a kind of encrypted currency , and if there is no real support for the reliable issuer of the encrypted currency , we will not have any room to create a new currency."

However, legendary hedge fund manager Mike Novogratz said yesterday that he believes institutional investors are "pouring into" the money market and are likely to make the price of Bitcoels in the next six to ten months Breaking $ 10,000.

Emmett is not the first UBS executive to be skeptical of UBS. Last week, Axel Weber, chairman of UBS, denied that Bitcoin could be used as a means of value storage or as a means of payment. It can only be used as a trading currency. He said.

At the same time, UBS is developing its own block based on the chain of digital technology , known as the "utility settlement currency", the purpose is to help financial institutions do not need to use cash as an intermediary in the case of cross-asset swap. At least nine major banks joined the working group, including Credit Suisse, BNY Mellon, Deutsche Bank and Barclays. UBS plans to issue this settlement currency in 2018.