New York — Deutsche Bank’s Wealth Management unit advises investors that cryptocurrencies are risky investments, according to Markus Mueller, the global head of the chief investment office at Deutsche Asset Management. Problematic issues included high volatility, possible price manipulation and data loss or data theft, Mueller said in an interview. "We do not recommend that. It’s only for investors who invest speculatively," he said. "There is a realistic risk of total loss." According to Mueller, recent price increases reflect intense speculation, driven by the situation in the markets. There was little scope left for returns in other asset classes such as fixed income, he said. Mueller is not the only person warning against cryptocurrencies. Bank of Spain governor Luis Maria Linde said cryptocurrencies carried enormous risks. And Austria’s Financial Planners Association compared bitcoin investments to a "casino visit". In order to establish cryptocurrencies as some kind of asset c...
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