DWS Group Considers Cryptocurrency
DWS Group is preparing to join the ranks of major financial institutions entering the world of cryptocurrencies. The company's global investment manager, Bjoern Jesch, acknowledges the ongoing debates surrounding the true value of digital currencies, and opinions within the firm are sharply divided.
Jesch mentioned that there are differing views within his group. One faction rejects the value of digital currencies and claims they have no real worth. Another group, on the other hand, accepts the current price of Bitcoin and emphasizes that buyers are willing to pay $35,000 for the digital currency.
As Bitcoin experiences a sharp resurgence driven by expectations of regulatory approval for crypto ETFs in the United States, DWS Group finds itself at a turning point. On one end of the spectrum, skeptics align themselves with prominent figures like Charlie Munger from Berkshire Hathaway Inc., who previously labeled digital currency as "partly fraudulent and partly delusional." They point to market volatility and illegal activities associated with digital currencies.
In contrast, supporters emphasize the fear of missing out, highlighting the significant value of digital tokens, which currently amount to approximately $1.3 trillion. In particular, Bitcoin has shown remarkable flexibility, more than doubling its value during the year, surpassing traditional stock returns.
