DBS executive: Bitcoin is a viable portfolio diversification tool, but don't expect quick profits
2024-06-25 08:31:00
Singapore dbs banking senior investment strategy strategist daryl hodesk3cryptocurrencydesktopCrypto News
Daryl Ho, senior investment strategist at DBS Bank in Singapore, said that the limited supply of bitcoin makes it a compelling alternative, in line with the scarcity of gold, and the growing acceptance of bitcoin itself is a positive sign. However, Daryl Ho believes that compared to gold, which has been proven to have thousands of years of value storage function, bitcoin lacks such history. Bitcoin is a long-term investment, similar to digital gold, but more volatile. Hou Wey Fook, chief investment officer at DBS Bank, said that the bank regards cryptocurrencies as an affiliated asset, so it is not yet in its core portfolio structure, and investors looking to profit quickly from cryptocurrencies may need to be patient.
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