Cryptocurrencies are nearing the end of the road, and it’s time to do away with the digital coins, UBS Gobal Wealth Management’s chief economist said.
UBS Paul Donovan, who has never been a fan of cryptocurrency, wrote earlier this week: “I come to bury Bitcoin, not to praise it.”
“These things were never going to be currencies. They’re not going to be currencies at any point in the future,” he said Thursday on CNBC’s “Fast Money.” “They’re fatally flawed.”
Eulogy made by Paul Donovan