Some days ago, Deutsche Bank posted a tweet very favorable on digital currencies.
What stood out the most was the bitcoin logo in the center of the image attached to the tweet, which surprised many bitcoiners.
Truth be told, Deutsche Bank had already started studying and appreciating cryptocurrencies a few months ago, especially regarding the deflationary nature of bitcoin.
Many Germans, in fact, have an atavistic fear of hyperinflation, considering that in the 1920s Germany was the protagonist of one of the worst hyperinflationary spirals in history, which left a deep mark on the German people.
At a time when some central banks, mainly the Fed, have decided to create large amounts of money and distribute them to citizens, it is no coincidence that a German bank praises digital currencies.
The tweet published by the official Deutsche Bank profile says:
“The COVID-19 pandemic is accelerating the rise of the central bank's digital currencies, as many governments see cash handling as a potential risk factor. This will probably add to calls to move towards #digitalcash according to our colleague #dbresearch Marion Laboure. "
Marion LaboureAs well as being the Deutsche Bank's Macro Strategy, he is also one of the authors of the report published in December, which, among other things, imagined that cryptocurrencies could replace fiat currencies by 2030.
In the December report, Laboure focused precisely on digitizing money, and in particular on the fact that while the bills are likely to resist, debit cards may disappear.
In the same report, in another section, Laboure explicitly defined cryptocurrencies as 21st century cash, clearly putting Bitcoin first. In light of this, the choice of image in the tweet does not seem random at all.
It is possible to assume that Deutsche Bank is not only studying cryptocurrencies and digital currencies of the central bank (CBDC), but it is also adopting the advantages, from the more technical to the financial aspects, such as the deflationary nature of bitcoin in the long term.
It is certainly not a coincidence that they published that tweet at this very moment, precisely to warn their followers that a technological revolution is underway in the monetary field and that their point of reference is the investigation of Marion Laboure.