Wealthy clients of Swiss private bank Falcon will be able to store and trade bitcoins via their cash holdings with the bank from Wednesday, a move that signals the traction the virtual currency is gaining even in slow-changing asset management.
While some remain skeptical, investors have begun warming to the technology, wooed by its explosive performance and the potential that the currency can compete with gold and government-issued money as a store of value. Fidelity Investments said in May that clients with bitcoins and other virtual currencies held on digital asset exchange Coinbase would be able to see their holdings on the Fidelity website, making it one of just a handful of large financial services firms to integrate digital currencies into its website. The virtual currency hit a record of almost $3,000 last month but has fallen over 20 percent since then to $2,375 on Wednesday. Its value has still more than tripled in the last year. was part of its strategic repositioning.
http://www.reuters.com/article/us-swiss-banks-falcon-bitcoin-idUSKBN19X28L