Deutsche Bank admits bitcoin will become ‘digital gold of the 21st century’

October 5, 2021

Deutsche Bank admits bitcoin will become 'digital gold of the 21st century'

Bitcoin has the potential to become the "digital gold of the 21st century", despite the volatility of cryptocurrencies. Marion Laboure, market strategist at financial conglomerate Deutsche Bank, expressed this view.

"People have always been looking for assets that are not controlled by governments. Gold has played this role for centuries," Laboure explained.

She said about two-thirds of bitcoin buyers use it for investment and speculation rather than as a means of payment or exchange.

She noted that a few large purchases or sales in the cryptocurrency market could affect the balance of supply and demand.

"Bitcoin is too volatile to be considered a reliable store of value," Laboure stressed.

The strategist also cited a lack of regulation as the main problem with cryptocurrencies. Another drawback of digital assets, in her view, is the threat to the environment. However, Laboure believes the situation will change for the better in the coming years.

Recall that in March, Deutsche Bank analysts said that bitcoin will continue to grow as long as it attracts new big investors. The bank called the asset "too important to ignore".

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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