BNY Mellon in Doubt of Bitcoin as Payment

Last Updated: July 1, 2021

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’
Jason

Jason

Hi! I'm the editor at EarthWeb. I have a deep interest in technology and business. I also enjoy testing products out. Contact me to be featured!
BNY Mellon in Doubt of Bitcoin as Payment
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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.

bitcoin dollar

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.

Written by Jason

Hi! I’m the editor at EarthWeb. I have a deep interest in technology and business. I also enjoy testing products out. Contact me to be featured!

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