Deutsche Bank Reveals Increasing Demand for Bitcoin Over Gold

Deutsche Bank Reveals Increasing Demand for Bitcoin Over Gold


German multinational investment bank, Deutsche Bank, says more and more people are choosing Bitcoin over gold to protect their cash.

In a note from Deutsche Bank published on Zerohedge, the Frankfurt-based bank says investors are increasingly seeing Bitcoin as a legitimate store of wealth option.

Deutsche Bank research strategist Jim Reid points to Bitcoin’s recent momentum as evidence of the evolving investor behavior.

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“Bitcoin is up another +3% overnight and seems to be creating momentum of its own. It’s up over 70% over the last six weeks as more and more investors are starting to see it emerge as a credible asset to invest in.”

Reid also notes that Bitcoin may be overtaking gold as the number one hedge against inflation for those looking to protect their liquid capital.

Source: Deutsche Bank

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