Bitcoin’s limited real-world use and extreme volatility show its recent surge is still a speculative bubble, UBS Global Wealth Management says | Currency News | Financial and Business News

Bitcoin replica coins are seen on November 13, 2017

  • UBS Global Wealth Management said it is “unconvinced” bitcoin’s recent rise is different from previous speculative bubbles.
  • UBS’s chief investment office said in a note on Friday that speculation in bitcoin is a “gamble.”
  • The team argued bitcoin’s “limited real world use” and “extraordinary price volatility” makes for a poor investment.
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