Are banks scared of Bitcoin?

CEOs of U.S. banks are likely "very afraid" of bitcoin although it remains a viable hedge against risks, according to a wealth advisor. read more

Big U.S. banks are likely to be "very afraid" of bitcoin, despite doubts from Chase CEO Jamie Dimon. Big U.S. banks are likely to be "very afraid" of bitcoin, despite doubts from Chase CEO Jamie Dimon. read more

CEOs of U.S. banks are likely "very afraid" of bitcoin, according to a wealth advisor. Some financiers have said the cryptocurrency is an unwise investment because of its volatility or supposedly weak store of value, but bank chiefs have another reason to dislike bitcoin, said Rainer Michael Preiss, executive director at Taurus Wealth Advisors. read more

Banks are likely "afraid" of bitcoin and blockchain, a wealth advisor said today. Speaking with CNBC, Rainer Michael Preiss, executive director for Singapore-based Taurus Wealth Advisors, made his argument in the wake of comments from JPMorgan chief Jamie Dimon, who declared bitcoin "a fraud" earlier this month and predicted that it would "blow up". read more

No. Banks aren't scared of bitcoin. They are just against any payment process which does not involve them as a mediator. Bitcoin, has the potential to become a new currency, free from the control of big governments and big banks. However Banks love the blockchain technology as it is secure, making it an ideal solution for digital transactions. read more

When it comes to bitcoin, banks are very tentative, they have a lot to lose, and not much to gain. read more

Bitcoin – and other decentralised cryptocurrencies – allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank. read more