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Marion Laboure: Bitcoin could be the gold of the 21st century

Marion-Laboure-Bitcoin--the-gold Marion Laboure | Deutsche Bank analyst

Deutsche Bank analyst Marion Laboure expressed the opinion that although cryptocurrencies are overly volatile, Bitcoin will remain for a long time and may well become the "digital gold of the 21st century."  

Marion Laboure emphasized that she sees "the potential of Bitcoin in becoming the digital gold of the 21st century," but warns of asset volatility. She noted that most Bitcoins are bought for speculation and investment, not for use as a medium of exchange and payment.

"Just a few large purchases or sales in the market can greatly affect the balance of supply and demand. Bitcoin is too volatile to be considered a reliable store of wealth. And I predict that it will remain ultravolatile for the foreseeable future," 

says Laboure.

Also, a Deutsche Bank analyst noted a lack of regulation in the cryptocurrency industry. That being said, while Bitcoin is likely to remain the industry leader, Ethereum has many more uses. For example, in the field of decentralized finance (DeFi) and for the issuance of collectible tokens (NFT).

"If Bitcoin is called digital gold, then Ethereum should be called digital silver," writes Laboure.

Earlier, Deutsche Bank, together with other major banks in the world, opposed the adoption of the Basel rules on investment in cryptocurrencies. Such rules exclude the possibility of banks participating in this activity.

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