"UBS Chairman: Bitcoin Currency Will Fail, Has No Lender Of Last Resort"

Published in Finance Magnates on 2015-11-12, "UBS Chairman: Bitcoin Currency Will Fail, Has No Lender Of Last Resort" declared Bitcoin dead or fundamentally doomed. The piece argued that Bitcoin failed as a functional currency due to extreme price volatility, slow transaction speeds, and limited merchant acceptance. Bitcoin was trading at $337 at the time of publication. Bitcoin continued to slide in a prolonged bear market, trading between $200 and $300 with waning media coverage.