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Deutsche Bank: cryptocurrencies will replace paper money by 2030

Deutsche-Bank-cryptocurrencies-will-replace-paper-money Deutsche Bank: cryptocurrencies will replace paper money by 2030

According to a new study by Deutsche Bank, by 2030 the demand for alternative currencies will increase significantly, which will lead to the disappearance of fiat currencies.

In the Imagine 2030 report, Jim Reid, head of Deutsche Bank's Global Fundamental Credit Strategy, recalled the problems that the current monetary system has faced in recent years. He said that the increased demand for intangible assets and their anonymity will attract more people to digital currencies.

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Deutsche Bank: aggressive policies of central banks led to the growth of Bitcoin

Deutsche-Bank-central-banks-led-to-the-growth-of-Bitcoin Jim Reid | Top manager at Deutsche Bank

Jim Reid, a top manager at Deutsche Bank, the largest bank in Germany, said that the US Central Bank reduced the refinancing rate one of the reasons for the rise in Bitcoin.

"If central banks are gonna be this aggressive, then alternative currencies do start to become a bit more attractive," said Deutsche Bank's global fundamental credit strategy head in an interview with CNBC.

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Leading strategist of Deutsche Bank predicts the end of the era of fiat money

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The recent strong growth in the market capitalization of crypto currency continues to attract the attention of an increasing number of economists and top managers from the financial sector.  Jim Reid, director of research at the Deutsche Bank AG, expressed his opinion about the future of financial markets and noted in his shocking report that "the beginning of the end of fiat money is already laid." This report greatly worried the financial community, because it was written by a person "from within" the system itself, a person who must know for sure about what he writes. Even more worrying was the fact that the author condemned the actions of central banks, which in his opinion only contributed to the development of the impending financial crisis.

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