Allianz GI CEO Kicks Bitcoin While it’s Down, Wants Crypto “Outlawed”12.37

Although Bitcoin (BTC) has experienced an unquestionably dismal 2018, with BTC losing 80% of its value since its year-to-date high, there are still a number of skeptics hell-bent at putting the crypto industry six feet under. Case in point, the chief of a world-renowned financial institution, set in its traditionalistic ways, recently lambasted this nascent asset class, urgently imploring regulators to “outlaw” cryptocurrencies in a fit of disgust.

Per a Reuters article, Allianz Global Investments (Allianz GI) CEO Andreas Utermann, a seeming centralist through and through, overtly trashed cryptocurrencies, such as Bitcoin, during a panel discussion held in London. Utermann, 52, addressing regulators in attendance, adamantly cried that “you (regulators) should outlaw [crypto].” The member of Allianz GI’s top brass purportedly reasoned that as cryptocurrencies have “wiped out people’s savings,” this nascent asset class deserves to get clamped down on.

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