Allianz Asks to Ban Crypto After Calling Bitcoin a ‘Buy’ Under $5K12.44

Allianz CEO has called on global regulators to outlaw cryptocurrency, contradicting the company’s chief financial advisor, who said Bitcoin would be a good buy under $5,000 earlier this year.

The Chief Executive of Europe’s biggest asset manager Allianz Global Investors Andreas Utermann expressed his thoughts on the regulation of digital assets, holding that global legislators should ban it completely, New York Times reports. He reasons that crypto-assets have wiped out people’s savings this year amid a year-long bear market.

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