The largest insurer of Europe predicted the collapse of bitcoin

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Photo: Ina Fassbender / DPA / Globallookpress.com

Largest insurance company in Europe, Allianz believes that the market bubble in bitcoins will burst sooner or later, and its elimination is only a matter of time. It is reported Bloomberg. As stated head of global Economics and strategy of the company Stefan Hofrichter, the real value of bitcoin is zero.

“Bitcoin is no one’s obligation, in contrast to government bonds, cash or equities,” he said. According to him, cryptocurrency does not generate any income.

Hofrichter noted that, although the same can be said in relation to gold, the precious metal is a generally accepted method of storing wealth over 2.5 thousand years.

Top Manager Allianz believes that bitcoin is in all respects suitable to the definition of a bubble asset. “Bitcoin mania is a classic bubble. However, its collapse will have little impact on “real world”” — he concluded.

March 13, investment Bank Goldman Sachs warned that in the near future, the cost of bitcoin will fall below the February lows and could fall to 5 thousand dollars.

In December 2017, bitcoin reached a maximum in the history of point — almost 20 thousand dollars, and at the beginning of 2018 all cryptocurrencies started to fall. Now the rate is 8.3 thousand USD per bitcoin.

Video, photo All from Russia.

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