Representatives of two Swiss banks that offer bitcoin products, Falcon Private Bank and Vontobel Holding AG, are high on bitcoin’s future due to the pending introductions of bitcoin futures in the U.S., according to Bloomberg. The banks believe the futures contracts will usher in more digital currency products.
Cboe Global Markets Inc. will introduce its bitcoin futures on Sunday, while CME Group Inc. will offer a similar product on Dec. 18. Bitcoin hit a $17,000 record price on Friday, marking a 1,500 percent gain for the year.
Investors Mixed
Vontobel customers offer mixed opinions about the futures contracts, said Heiko Geiger, executive director of the Frankfurt-based bank. Some see the futures contracts as a path to mainstream financial markets, while others believe bitcoin is a bubble that will collapse.
Some investors want more liquidity in the market, which futures contracts support, while others plan to short sell bitcoin, he said. Overall, he said customers are bullish.
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