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Money market Deutsche Bank optimistic about the cryptocurrency revolution

22/02/2021
Source : ORISHAS FINANCE
Categories: General Information

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Deutsche Bank remains convinced that cryptocurrencies would become widespread and become a reality for the general public. This position displayed at the beginning of February even precedes Tesla's boost. “It is no longer a question of 'if' but of ''when'' cryptocurrencies will be used by the general public,” says Deutsche Bank. Indeed, the coronavirus crisis is seen as a trend accelerator. For Marion Laboure, strategist, “the questions have changed, the world no longer wonders if digital currencies will succeed but how and when they will become a reality for the general public”. The most famous of cryptocurrencies, just like ethereum, bitcoin cash or litecoin can be stored on Paypal since the end of last year in the United States, a purchase and sale functionality has also been added, before an adoption more complete expected in the first half of this year, when Venmo, the American giant's mobile payment application, will make it possible to pay for purchases in cryptocurrencies. 2021 is shaping up to be a big year for cryptocurrencies. Already, bitcoin has crossed the $52,000 threshold with Tesla indicating that it has bought $1.5 billion worth of it. Earlier this year, the Bank for International Settlements (BIS) reported that nearly nine out of ten central banks (86%) across the world were currently working on setting up CBDCs. 14% of them are already carrying out pilot projects. For the BIS, over the next three years, central banks representing a fifth of the world's population are likely to issue digital currencies.
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