Deutsche Bank Asset and Wealth Management does not currently advise investing in crypto currencies. An interview with General Manager of Wealth Management Markus Müller told Bloomberg News that people investing in crypto currencies could be damaged. The manipulation of prices involved data loss and data theft.
"We do not recommend this only for speculative investors. There is a real risk of losses here." Müller said.
According to Müller, the recent price increases reflect the imagination of the current situation on the market. According to Müller, transparency, security and regulation are essential to invest in these currencies. Müller is not the only one who warns against the crypto currency. Luis Maria Linde, president of the Spanish Central Bank, said crypto currencies carry huge risks. The Austrian Financial Planning Association also described Bitcoin investments as 'casino visits'.
Müller said "Once security and confidence are established, cryptographic currencies can be treated as asset classes.
Crypto currencies make transactions easier and more economical. Some of the crypto currencies have the potential to disable the industry. Probably the most different concept for the financial sector and the public since the Internet."