We see bitcoin as a bit of a Ponzi scheme,” David Gledhill, group chief information officer and head of group technology and operations at DBS, told CNBC on Wednesday.
Bitcoin transactions are “incredibly expensive” and “all the fees are hidden through the crypto-mechanisms,” he said on the sidelines of the Singapore Fintech Festival. “We don’t think DBS being in that game right now is going to create a competitive advantage for us.
Eulogy made by David Gledhill
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Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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