- Julius Baer Staff, a Swiss non-public financial institution, will start providing bitcoin and different cryptocurrency merchandise to high-net-worth folks.
- Julius Baer defined we’re most probably witnessing a bubble very similar to the dot-com burst which birthed a brand new trade.
- The financial institution at the start partnered with cryptocurrency financial institution SEBA in 2019 because the establishment changed into extra familiarized with the trade.
Julius Baer Staff, a non-public financial institution primarily based in Zurich, Switzerland announced that it’s making a proprietary virtual wealth control gadget concerned with bitcoin and different cryptocurrencies solely adapted to high-net-worth shoppers.
The personal financial institution famous its purpose to put itself on the intersection the place bitcoin and different cryptocurrencies meet the fiat global whilst acknowledging the volatility of the distance. Julius Baer plans to stay a watchful eye at the rising asset elegance, tracking its evolution and any alternatives that can provide themselves.
“It might smartly be that at this very speedy we’re witnessing a bubble-burst second of the crypto trade, and everyone knows what came about after the dot-com bubble burst 30 years in the past,” stated CEO of Julius Baer Philipp Rickenbacher all through a presentation to traders, consistent with a document from Bloomberg.
“It prepared the ground for the emergence of a brand new sector that certainly remodeled our lives; I consider virtual property and decentralized finance hang that very same possible,” Rickenbacher reportedly persisted.
Julius Baer has taken a stake in SEBA Crypto AG, considered one of best two fully-regulated crypto banks in Switzerland. When making an investment in SEBA in 2019, Julius Baer noted that they had been satisfied that bitcoin and different cryptocurrencies would turn into a “reliable sustainable asset elegance of an investor’s portfolio.”
Guido Buehler, CEO of SEBA, said on the time, “We’re very proud to have Julius Baer as an investor. SEBA will allow simple and secure get admission to to the crypto global in an absolutely regulated atmosphere. The cooperation between SEBA and Julius Baer will indisputably create worth for the mutual get advantages and to the shoppers.”