Insight Investment, which is a global asset manager, doesn’t see any long-term merit in adding Bitcoin as a payment method. Francesca Fornasari, the head of currency solutions at the firm, says they are ‘skeptical’ of Bitcoin’s ability to take over when it comes to payment methods.
Insight comes under the umbrella of BNY Mellon, which is responsible for safeguarding more than $41 trillion worth of assets. BNY moved to cryptocurrency back in February. Despite this, they are asking for caution when thinking about Bitcoin investments.
Fornasari said, “There’s a whole number of different factors that are going to affect the value of your investment, that have nothing to do with inflation or inflation hedges.”
She also said that it’s difficult to evaluate Bitcoin’s value due to its volatility.