DBS Bank Executive: Bitcoin is a viable tool for portfolio diversification, but don't expect quick profits

Daryl Ho, Senior Investment Strategist at DBS Bank Singapore, stated that the limited supply of Bitcoin makes it an attractive alternative, similar to the scarcity of gold. The increasing acceptance of Bitcoin itself is a positive signal. However, Daryl Ho believes that compared to gold, Bitcoin lacks history. Gold has been proven to have thousands of years of value storage function while Bitcoin does not have such history. Bitcoin is a long-term investment, similar to digital gold but with higher volatility. Hou Wey Fook, Chief Investment Officer at DBS Bank said that the bank views cryptocurrency as a subsidiary asset and therefore it's currently not in its core investment portfolio structure; investors hoping for quick profits from cryptocurrencies may need to be patient.