Analysts at Société Générale doubts that bitcoin (EXANTE: Bitcoin) has a place in an investment portfolio as the cryptocurrency is subject to "erratic price movements." According to CNBC, Société Générale's analysts, Alain Bokobza and Arthur Van Slooten, believe that the largest by market capitalization cryptocurrency remains "highly contested."
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"It comes as no surprise that the place of Bitcoin in any investment portfolio remains highly contested, precisely because of its erratic price movements," they wrote in a note.
The analysts also claim that the only potential reward to investors in the cryptocurrency and gold is from their "positive price movement." However, this is the only thing they have in common, apart from their ability to trigger rush buying, Bokobza and Van Slooten added.
In October last year, the French-based multinational investment bank selected ConsenSys to provide technology and expertise for a central bank digital currency issuance and management. ConsenSys joined Forge, an integrated subsidiary of Société Générale Group. ConsenSys assists Forge with cross-ledger interoperability.
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