Getty Images Bitcoin's limited real-world use and extreme volatility show its recent surge is still a speculative bubble, UBS Global Wealth Management says
UBS Global Wealth Management said it is "unconvinced" bitcoin's recent rise is different from previous speculative bubbles.
UBS's chief investment office said in a note on Friday that speculation in bitcoin is a "gamble."
The team argued bitcoin's "limited real world use" and "extraordinary price volatility" makes for a poor investment.
Bitcoin's "limited real-world use" and "extreme volatility" illustrate the cryptocurrencies recent surge is still a speculative bubble, according to UBS Wealth Management.

In a note to clients and employees on Friday, titled "Is Bitcoin too big to ignore?", the chief investment office of UBS Global Wealth Management said it remains "unconvinced" by bitcoin amid the cryptocurrency's recent surge to record highs of over $61,000 per coin on March 13.