From 'speculative bubble' to 'strengthening brand': Waverton performs volte-face on Bitcoin

U-turn follows cryptocurrency market development

Waverton Investment Management has reversed its stance on Bitcoin, saying it now believes in the digital currency.

The comments come from Waverton fund manager William Hanbury who argues the development of the cryptocurrency market in recent years has legitimised and strengthened Bitcoin. Bitcoin value set to surge, says deVere Group's Nigel Green Hanbury points to a strengthening regulatory environment as part of this, with several regulators introducing frameworks around Bitcoin trading. This has allowed more institutional investors to feel confident enough to trade in Bitcoin such as Fidelity. Hanbury says this has created a "positive feedback loop" which results in price rises and a stronge...