Swiss multinational investment bank and financial services company Credit Suisse was sold for just $3 billion after it was on the verge of bankruptcy.
Considering the bank was worth over $30 billion just a few years ago, this came as a shock to many.
Calling Bitcoin a “Bubble”, Credit Suisse Sold for $3 Billion, Binance CEO Makes a Statement
In light of this news, an old story has resurfaced in which Tidjane Thiam, former CEO of Credit Suisse, stated that he is cautious about Bitcoin and that the current interest in BTC may eventually dwindle.
While the Bitcoin price was approximately $7,000 in 2017, Credit Suisse CEO, who made these statements, also used the following statements: cryptocurrency angered its investors:
“As far as we can determine, the only reason to buy and sell Bitcoin today is to make money, which is the very definition of speculation and bubble.”
When we come to today, we have seen that after Credit Suisse’s big financial troubles, even Dogecoin was sold for an amount below its market value, for $ 3 billion. Credit Suisse shareholders will suffer substantial losses by receiving the equivalent of just 0.76 Swiss Francs in UBS shares.
#bitcoins is still here. https://t.co/bWCG1ZlC1l
— CZ 🔶 Binance (@cz_binance) March 20, 2023
Changpeng Zhao, CEO of the world’s largest crypto exchange Binance, also commented on the subject. Citing the news where Credit Suisse CEO Tidjane Thiam made the aforementioned words, Zhao said, “Bitcoin is still here.” made a statement.
*Not investment advice.
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