UBS chairman Axel Weber predicts 'massive' drop in bitcoin value

UBS chairman Axel Weber predicts 'massive' drop in bitcoin value

A file picture shows the waning moon behind a logo of Swiss bank UBS in Zurich, Switzerland February 10, 2015. REUTERS/Arnd Wiegmann/Files

UBS Group AG Chairman Axel Weber said the Swiss bank won’t trade Bitcoin or offer it to retail clients as increased regulation could lead to a “massive” drop in value.

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