Allianz GI CEO: Cryptoassets more suited to 'criminal underworld' than investors

Predicts greater regulatory scrutiny to come

Mike Sheen
clock
Allianz GI CEO Andreas Utermann
Image:

Allianz GI CEO Andreas Utermann

CEO of Allianz Global Investors Andreas Utermann has claimed cryptocurrencies like Bitcoin are "entirely unsuitable for investing" and are better suited for use by the "criminal underworld".

Cryptocurrencies can neither be considered "a proper asset class, nor can they be considered as a currency", and are likely set for greater political and regulatory scrutiny to come, Utermann (pictured)...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space

  • Get ahead of regulatory and technological changes affecting fund management

  • Important and breaking news stories selected by the editors delivered straight to your inbox each day

  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts

  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

Reportedly Chinese military planes entered Taiwan’s air defence zone.

Stormy waters: Investors 'watching China-Taiwan tensions closely'

Military intervention 'unlikely' in short term

clock 26 October 2021 • 5 min read
Seven investor concerns moving into Q4

Seven investor concerns moving into Q4

Big questions on investors' minds

Ben Kumar
clock 26 October 2021 • 1 min read
All the latest news, analysis and content about the Covid-19 outbreak

Coronavirus Blog: Stricter Covid restrictions could cost UK economy up to £18bn - reports

Latest news and reaction

Investment Week
clock 26 October 2021 • 1 min read