Bitcoin Forum

Former CEO of UBS & Credit Suisse: Buy Bitcoin

    So no investment tip for the next 30 to 40 years?

    “The only investment that has been proven holds its value over a longer period, gold, and in the future (Bitcoins). Gold and Bitcoins production is limited. Not so with money. Central banks can print unlimited money and tell us today also very clear. It is for this reason not recoverable.”

    What should you consider when wealth building?

    “You should not rely on The State itself. Maybe he paid you in the future is not what you imagine today. Everyone should take the initiative. When you create, you must find something that is limited and not increased arbitrarily.”

https://www.cryptocoinsnews.com/ex-ceo-ubs-credit-suisse-bitcoin-good-buy-long-term/

This man is a scholar and a gentleman. We need more pioneers like him.

Better look at the original text (in German).

http://www.cash.ch/news/newsletter/gruebel_boersen_koennen_noch_lange_steigen-3289894-440 (http://www.cash.ch/news/newsletter/gruebel_boersen_koennen_noch_lange_steigen-3289894-440)

I'm amazed that he puts BTC on the same level as gold!

I think a really simple and fundamentally sounds investment strategy is to invest in BTC and physical Gold and Silver.
Like the CEO pointed out, the common denominator in those 3 is that there isnt an infinite supply.

This is what ive been doing and will continue to do in the future. 

Some people have the ability to think long-long term and Former CEO of UBS & Credit Suisse is one of them.

A bank ex-CEO voiced to promote bitcoin, that is promising. Why is he saying "in the future (bitcoin)"? What does he mean? Bitcoin is not a good investment now? If bitcoin is a good investment in the future, it should be a good investment now when it is cheap.

Where is that english translation coming from?
Because in the original german written source Gruebel said Bitcoin will MAYBE hold it's value.
That is an important word missing in cryptocoinnews english translation.
I'm pro Bitcoin but translations shoud be done correctly.

Very great news, this is the best part :

"Making a clear parallel between the value of Gold appreciating and Bitcoins is significant. And also illuminating fiat, bank-made money through Fractional Reserve Banking as an opposing investment position is something I have been vocal on as well. It is clear to anyone with an economic background that “The State” will only feed you one thing in the long-term: debt. Creating fiat through “Quantitative Easing”, Fraction Reserve Banking, and other measures only hurt the common consumer, and protects the elite at the top of the financial food chain. Inflation, unemployment, and increased state debt and taxation are all rising dramatically."

I dont know, there are some weird expressions there, it may be google translator for all i know.

It's interesting that he think of Fiat currencies as money and not currency.
In my world, Gold and Silver is money, and maybe bitcoin, but EUR, USD, GBP etc. are currencies, not money.

Also, I don't know why he says Gold and maybe Bitcoin, but not Silver. I think Gold and Silver both go hand in hand when is comes to actual, solid, fungible money.

Me too. It seems pretty obvious that Bitcoin is much better than gold:

https://i.imgur.com/QVzOBAU.jpg
Source: https://www.linkedin.com/pulse/20141120164624-208991-what-is-bitcoin

And here's a piece from today noting that a 7th characteristic, "Programmabililty", is likely required for something to be a good money going forward: https://medium.com/@ntmoney/what-is-good-money-ae3385cf7633

Would be nice if not was the "Former" CEO :-)

He'd become 'former' very rapidly if he'd said something while in office.

I wonder how many finance professionals there are who have some opinions to share on this subject but have to keep it under their hats.

That's the best news I've heard thus far in weeks. We need more people like him to promote bitcoin and with his stature, common people would sure listen to what he has to say.

It's nice to see it getting props from prominent people but I don't think either cash or bitcoin is a safe investment currently. However, if the fiat economy did collapse I think bitcoin could thrive. Gold will always be valuable because it's a useful metal but not very good as a currency.

The guy is not very friendly with central banks, and there's no way he could have said that while in office. Basically, he only compares valuables things, some with a fixed supply, gold and BTC, with those with an unlimited and unrestricted supply: fiat from the central banks.

Some financial executives start telling the truth after they retired like Greenspan.

Nice, but I question the last point about fungibility.  The fact
that Bitcoins have a transaction history isn't a problem as
long as the basic "social contract" is in place and all Bitcoins
are treated equally. 

Gold and cash, on the other hand, are able to be counterfeited,
which makes them less fungible.

 

Happy about this news. Former Credit Suisse CEO said that Bitcoin, Is the only worthy investment

Read the full article here:

Bitcoin, The Only Worthy Investment Said The Ex-CEO Of Credit Suisse (http://bitforum.info/t/bitcoin-the-only-worthy-investment-said-the-ex-ceo-of-credit-suisse/246?u=angelo/)

Do you think Oswald has some plans about Bitcoin that's why he said that?

On what occasion did he say this? Was it an interview conducted by this
site bitforum.info? To be honest, this article seems to leave out a lot..

I think the interview was done by Cointelegraph. The complete one.

Whenever I see someone from the "fiat status quo" talking positively about bitcoin i think they have a second agenda. Its good propaganda anyway.

Bitforum seems like a small site and I doubt they do any interviews themselves. They really need to start putting source links for every article. Otherwise you cannot even assess how trustworthy is the news you're reading, or what's the wider context.

The interview was done with no related bitcoin platform.
Is was done for cash.ch. A platform for economics and banking.

http://www.cash.ch/news/newsletter/gruebel_boersen_koennen_noch_lange_steigen-3289894-440 (http://www.cash.ch/news/newsletter/gruebel_boersen_koennen_noch_lange_steigen-3289894-440)

Links to other sites that cite the OP's news story:

http://cointelegraph.com/news/113441/ex-credit-suisse-ceo-invest-in-gold-and-bitcoin-long-term-not-fiat

http://newsbtc.com/2015/02/08/ex-ceo-credit-suisse-oswald-gruebel-believes-bitcoin-one-worthy-investments/

https://www.cryptocoinsnews.com/ex-ceo-ubs-credit-suisse-bitcoin-good-buy-long-term/

Basically the days of printing fiat cash out of thin air and at will by big centralized banks maybe coming to an end.

Very surprising coming from a "banker", but nonetheless shows the paradigm shift thats occurring and perception of Cryptocurrencies and Bitcoin as well.

Thanks, that makes a nice read, indeed :) Bitforum should really disclose the sources.

Bitforum is a new site yes. :) I love a fast read. Cointelegraph writes a lot, makes me sleep.