Banking Chief HODLer Misunderstands ‘Gambling’… or Perhaps ‘Investment’?

In a recent interview with Arabian Business, the CEO of a Swiss private banking group likened cryptocurrency investing to gambling. But was he being willfully disingenuous or just lacking in understanding? Here is what he got right and wrong.
Naysayer says “Nay!”
Hmmm… traditional banking guy spreads FUD, eh? We haven’t heard that one before. So who said what this time?
From the report as published, it seems he didn’t actually say much. The ‘he’ in question being the head of Zurich-based Julius Baer Group, Bernhard Hodler. Yes, that is HODLer, as in one who HODLs, as in the least gamble-y form of crypto (or any other type of) investing.
Anyway, first he makes the definition between blockchain and cryptocurrency. Blockchain equals good, Cryptocurrency not so much.
Same but Different
He thinks there is a lot of speculation, a lot of volatility. And although he believes that some currencies will make it, nobody knows which, so his company advises against crypto investing altogether.
They will give “access to structured products” on request, but warn clients that it is “a bit [like] gambling.”
Well, that …

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