Ex-Credit Suisse CEO’s Bitcoin ‘bubble’ forecast backfires as bank sold to survive

As Credit Suisse (SWX: CSGN) becomes another banking giant to feel the effects of the widespread crisis that has already crashed several financial institutions and put many others at risk, it is worth reminding of the words of its former CEO, who claimed Bitcoin (BTC) was a bubble.

Indeed, the former Credit Suisse CEO Tidjane Thiam was skeptical about Bitcoin, arguing that the flagship decentralized finance (DeFi) asset was “the very definition of a bubble,” the anonymity of which presented a challenge, as he stated at a press conference back in November 2017.