Cryptos are ‘entirely unsuitable for investing in’: CEO of Allianz Global Investors
Not for the first time, Andreas Utermann, the CEO of investment management firm Allianz Global Investors, has taken a swipe at digital currencies. In a Jan. 30 column headlined “Unencryptoed: Why investors should steer clear of cryptocurrencies,” Utermann said the distributed ledger technology lacks key features that make fiat money sustainable, including tax-raising powers, productivity in terms of trade and the ability to pay interest.
