Deutsche Bank strategist: Bitcoin could be 21st century digital gold

According to Deutsche Bank strategist Marion Laboure, as bitcoin grows closer and closer to the concept of “digital gold”, Atrium also has the potential to become “digital silver”.

to the Report Crypto Potito, Marion Labour, Deutsche Bank strategist, believes that Bitcoin has the potential to become the “digital gold” of this century. Labour also praised Atrium applications, calling it “digital silver”.

According to Marion Labour, a senior analyst and strategist at Deutsche Bank, Bitcoin has all the hallmarks of a time when the world is experiencing rising inflation, suspicion and fear due to the Corona epidemic and government actions. Although the supply of bitcoins is stable (there are only 21 million bitcoins), he said the asset has the potential to be a successful choice as a safeguard against rising inflation.

Increasing the control of the authorities over the population is another factor that can increase the attractiveness of Bitcoin in the eyes of the people. Labour also noted that in such cases, over the years, human attention has been drawn to assets over which the government has no legal authority; Like gold. With that said, the board believes bitcoin should become “21st century digital gold.”

It is worth noting that Deutsche Bank recently published different opinions on this issue. Last year, a report released by the German multinational investment bank said that large fluctuations in bitcoin prevented the currency from becoming a “reliable source of value”.

According to Labor, large fluctuations in bitcoin will not be permanent. The asset is “risky” at the moment and could be “very volatile” in the near future, but like gold, which has experienced similar problems before, Bitcoin is able to overcome the problem.

While Bitcoin is a pioneer in digital currencies and is the largest digital asset in terms of market capitalization, Labor also praised Atrium’s benefits. He noted that this asset is more than just a digital currency, as it offers many applications such as decentralized financial projects (DeFi).

In fact, most heterogeneous tokens (NFTs) are part of the atrium china block. He pointed out that ether (ETH) could be “digital silver”.

Labor concluded that no other digital currency would be more powerful than Bitcoin and Atrium in the next five years.

The Deutsche Bank strategist also spoke about the disadvantages of this space, the main of which is the lack of regulations. He believes that if this problem is resolved, the digital currency industry will be better accepted in society. Environmental concerns about the extraction of digital currencies are another major obstacle:

In one year, Bitcoin consumes almost equal to the total electricity consumption of Pakistan’s population (217 million).

Although concerns about this issue have grown this year, the number of companies and groups seeking to address the problem has also grown exponentially. For example, several exchanges, including FTX, BitMEX, and Gemini, have launched digital currency-neutralizing activities.

Labor also commented on the central bank’s digital currencies. He stated that he prefers decentralized digital currencies and said that the centralized nature of the Central Bank (CBDC) digital currency would not be attractive to society. However, he believes that both assets, along with cash, will have a successful presence in the economic network.

In another note, Deutsche Bank CEO Christian Nolting expressed somewhat differing views. He said in May that the early launch of the central bank’s digital currency as a digital currency would pose a major threat to bitcoin:

The widespread inflow of digital currencies by the central bank, which has more control over them than digital currencies, can create a challenging environment for digital assets as some of the benefits they have over traditional financial assets disappear in the long run.