Deutsche Bank: Crypto Can Replace Fiat by 2030
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Dec. 6, 2019
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German multinational investment bank and financial services company Deutsche Bank has revealed a new outlook for the decade ahead, according to which, cryptocurrency could replace fiat money by 2030.

German Banks Could be Allowed to Store Bitcoins

Deutsche Bank Strategist Jim Reid claims the forces that have held the current fiat system together now look fragile and they could unravel in the 2020s.

"If so, that will start to lead to a backlash against fiat money and demand for alternative currencies, such as gold or crypto could soar," Reid added

Reid also highlights that if and when labor costs rise at the margin rather than fall, there will likely be "a more difficult environment for policymakers" regarding the regulation of the cryptocurrency industry.

Earlier iHodl reported that a publicly regulated German bank BayernLB issued a report titled «Megatrend Digitalisation. Is Bitcoin outshining gold?» in which it predicted a new all-time high for bitcoin (EXANTE: Bitcoin) in the next year.

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