Deutsche Bank Executives Claim that Bitcoin Is Not Going Anywhere.
The sharp rise of Bitcoin has made Deutsche Bank executives agree that Bitcoin digital currency will not go anywhere, said statements were given at a meeting where the world market outlook in Manhattan on Tuesday was discussed last, Peter Hooper, is an economist belonging to the largest bank in Germany, this indicated that Bitcoin came to stay and also added:
“The whole idea has a potential future, but it could be better designed. Ultimately, we are going to have to find a way to accommodate and regulate to avoid the problems.”
His comments come at a time when the first U.S. regulated exchange has launched its own bitcoin futures contract, which allows investors to bet on the price of bitcoin for the first time. After receiving regulatory approval from the U.S. Commodity Futures Trading Commission (CFTC), Chicago-based exchange Cboe Global Markets is helping the digital currency become more mainstream in a regulated environment. The CME Group, based in Chicago, is to launch its own bitcoin futures contract on Monday, following approval from the CFTC.
Hopper indicates that Bitcoin has great potential and that this will grow as people decide to invest in the so-called cryptocurrency. He also said that it is very useful when sending money abroad without having to pay the high rates of intermediary banks, he said:
“This has a long way to go to compete with existing money supplies, but there are questions about financial stability.”
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