This Is the Week Wall Street Went Nuts Over Cryptocurrencies
- UBS Group AG, Citigroup Inc. put out explainers on blockchain
- Queen of England’s banker says there are “too many unknowns”
Bitcoin Blasts Through $5,000 Level for First Time
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Wall Street banks that weren’t already on the bitcoin bandwagon appear to be piling in, or at least eyeing seats, after the cryptocurrency surged to all-time highs this week on the way to $6,000.
Analysts are working to keep up with demand from clients for information. UBS and Citigroup published extensive explainers on blockchain technology, while senior executives at JPMorgan Chase & Co. warmed to the cryptocurrency during the bank’s third-quarter earnings call.