- The manager's head of currency solutions, Francesca Fornasari, said her firm was "skeptical" of the ability for bitcoin to take over a "means of payment."
- Insight is a subsidiary of the world's largest custodian bank, BNY Mellon, which safeguards over $41 trillion in assets. BNY announced its move into crypto in February.
- Despite its parent company's recent foray into the industry, the subsidiary is calling for caution on investing in assets like bitcoin.
- “There’s a whole number of different factors ... that are going to affect the value of your investment, that have nothing to do with inflation or inflation hedges,” said Fornasari.
- The currency solution head also said bitcoin was difficult to evaluate due to its volatility, which made it difficult to determine how the crypto would react in an inflationary environment, Bloomberg reported.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.