Bitcoin News: Pascal Blanque, CIO of Amundi, believes that Bitcoin will lose its relationship with central banks digital currencies.
Amundi chief investment officer Blanque said at today’s press conference that the “dance is over” between governments and regulators and Bitcoin. Blanque believes the sole benefit of Bitcoin will accelerate the adoption of central banks digital currencies:
“Bitcoin will be remembered for forcing central banks to adopt digital currency.”
The executive also used the phrase “bullshit” for the top cryptocurrency while warning about market bubbles.
In March, Blanque stated that “there may be something left of crypto” but also used the phrase “bubble times”.
Amundi, the second largest asset manager in Europe, claims in its latest research paper that Cryptocurrencies can be potentially destabilizing.
He notes that the flexibility of such decentralized systems is questionable.
In addition, the article notes that buyers tend not to discount any regulatory risk, which could lead to “brutal” price adjustment.
Bitcoin slightly bullish
Bitcoin, which has appreciated close to 3% in the last 24 hours, is trading just below $ 39 thousand. Especially after the downward wave that started on May 19, the pioneering crypto currency, which is trying to recover, has recovered at a considerable level.
While BTC is known to have a strong resistance at $ 40 thousand, it is curiously expected whether it will revisit ATH above $ 64 thousand.