Speculators have been profiting from the currency's roller-coaster
volatility, but some lost out when the People's Bank of China banned
third-party payment providers from dealing in it earlier this month.
The bank ruled that no financial institutions, payment agencies or insurers should trade or transact in the digital currency.
Hong Kong's secretary for financial services and the treasury,
Professor Chan Ka-keung, reminded Hongkongers that bitcoin was "not
qualified to become an electronic currency".
Student Rex Lai Tat-shing said: "What we should do is value
investment. For example, when investing in stocks, we should analyse the
company's performance based on our knowledge."
Hui, Tsang and Lai are the leaders of three groups in an
exchange-traded-fund (ETF) investment competition, organised by the Hang
Seng Management College and the Deutsche Asset and Wealth Management.
Each group, comprising five students, is given a virtual capital of
HK$500,000 to invest in ETFs for three celebrity clients, each from a
different background and with a different investment goal.
The competition, which started in September, will wrap up at the end of the month.
The criteria for victory is based on the rate of investment return as
well as the team's investment analyses and use of investment
strategies.
source: _http://www.scmp.com/news/hong-kong/article/1386541/better-gamble-macau-hong-kong-business-students-deem-bitcoin-too?page=all
Title : Hong Kong Business: Bitcoin too risky - Better to gamble
Description : Speculators have been profiting from the currency's roller-coaster volatility, but some lost out when the People's Bank of China b...