The largest private bank in Liechtenstein now allows customers to invest directly in Bitcoin


LGT Bank has teamed up with SEBA Bank to provide its customers with the option of making direct investments in bitcoin and ether.

With the help of SEBA Bank, LGT Bank, Liechtenstein’s largest private bank, is now able to provide its clients with access to digital assets via direct investments. Bitcoin (BTC) and ether (ETH) are the two most valuable cryptocurrencies as measured by market capitalization (ETH).

The need for digital assets has grown “sharply” in recent years, according to the banking institution. To keep up with the rising demand, LGT now offers two cryptocurrency investment options: bitcoin and ether (against the US dollar). The bank’s CEO, Roland Matt, had this to say:

For us, it is a great achievement that we can now provide our clients easy access to these marketplaces while maintaining the best security requirements. We spent a lot of time on this product. The development of cryptocurrencies is still in its infancy. In order to facilitate this sort of investment, LGT first developed the required procedures and frameworks.”

Investing in cryptocurrencies would be governed by the same regulations as regular investments, LGT said in a statement. When they sell, they’ll get the same tax returns as before, but they’ll be able to get their money more quickly. Private keys and passwords won’t be an issue for LGT customers since the bank will keep its assets.

LGT Bank customers in Switzerland and Liechtenstein will be the first to benefit from the programme, which is currently only open to professional clients or customers of an everlasting asset manager. The bank is looking to extend the service to new nations because of demand in other sectors.

SEBA Bank, a Swiss digital asset firm, is LGT’s partner in the crypto move. LGT and SEBA’s “highest security standards,” according to CEO Franz Bergmüller, will make it easier for clients to explore the bitcoin world. We are glad to assist LGT in developing its services for digital assets,” he said, concluding his remarks.

based on SEBA’s estimates, BTC might reach $75,000 by 2022

The former CEO of SEBA Bank, Guido Buehler, indicated earlier this year that the business had done a study that estimated that bitcoin’s price will achieve a new all-time high by the end of the year. USD valuations between $50,000 and $75,000 were expected by the institution.

Between $50,000 and $75,000 is what our internal value models show at this time,” he said. That’s a level I’m convinced we’ll see. Timing is always an issue,” he says.

The increasing interest from institutional investors, according to Buehler, will accelerate the price increase, and LGT’s decision validates this story.

Also Read: MicroStrategy suffers a revenue decline in the first quarter due to a drop in the price of bitcoin

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