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DBS Bank executive: Bitcoin is a viable portfolio diversification tool, but don't expect quick profits

DBS Bank executive: Bitcoin is a viable portfolio diversification tool, but don't expect quick profits

CointimeCointime2024/06/25 08:53
By:Cointime

Daryl Ho, Senior Investment Strategist at DBS Bank in Singapore, stated that Bitcoin's limited supply makes it an attractive alternative, similar to the scarcity of gold. The increasing acceptance of Bitcoin is a positive signal. However, Daryl Ho believes that compared to gold, Bitcoin lacks history. Gold has been proven to have thousands of years of value storage function, while Bitcoin does not have such a history. Bitcoin is a long-term investment, similar to digital gold, but with higher volatility. Hou Wey Fook, Chief Investment Officer of DBS Bank, stated that the bank considers cryptocurrencies as a supplementary asset and is therefore not currently in its core investment portfolio structure. Investors who want to profit quickly from cryptocurrencies may need to be patient.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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