Bitcoin (BTC)Crypto News

Liechtenstein’s largest private bank enables direct investments in Bitcoin

The leading private bank in Liechtenstein – LGT Bank – has partnered with SEBA Bank to offer its clients direct investments in digital assets. Those included in the initiative cryptocurrencies are the two largest after market capitalizationBitcoin (BTC) and Ethereum (ETH).

LGT enters the crypto ecosystem

The financial institution noted that demand for digital assets has increased “a lot” in recent years. To meet the growing interest, LGT allowed its clients to invest directly in two cryptocurrencies – bitcoin and ethereum (versus the US dollar). Roland Matt – CEO of the bank – commented on this topic:

“We are very pleased that we can now offer our customers convenient access to these markets while maintaining the highest security standards. We have worked intensively on this offer. Cryptocurrencies are still in a phase of dynamic development. LGT therefore first created the appropriate, necessary processes and framework conditions for this type of investment.”

LGT stated that the rules for investing in cryptocurrencies will be the same as investing in traditional assets. People get the same documentation for their tax returns while the funds are easily accessible upon sale. LGT customers don’t have to worry about private keys and passwords as the bank stores their holdings.

The option is initially only available to selected clients (professional clients or clients of a perpetual asset manager) of LGT Bank based in Liechtenstein or Switzerland. Due to demand in other areas, the bank is striving to expand the offer to other countries.

LGT’s partner in the crypto move is the Swiss digital asset company – SEBA Bank. Its CEO – Franz Bergmüller – said the mix of LGT’s range of services and SEBA’s “highest security standards” will allow customers to immerse themselves in the cryptocurrency universe.

“We are delighted to be able to support LGT in expanding their digital asset services,” he concluded.

SEBA predicted that BTC will reach $75,000 in 2022

Earlier this year, SEBA Bank’s former Chief Executive Officer – Guido Buehler – stated that the company had conducted an investigation and estimated that by the end of the year, Bitcoin’s price could see a new one all-time high could reach. The institution envisioned a USD valuation between $50,000 and $75,000:

“Our internal valuation models are currently showing a price between $50,000 and $75,000. I’m pretty confident that we’ll reach that level. The question is always the timing.”

According to Buehler, the rise in price is being fueled by growing interest from institutional investors, and LGT’s move confirms that narrative.

Source: Crypto News Deutsch

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button