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After JP Morgan, Deutsche Bank decides to investigate blockchain technology; Gen-Y loves Bitcoin {BTC}

Bitcoin

Bitcoin is ranked at #1, with a dominance rate of 69.4% [according to the data on coinmarketcap]. BTC is priced at $10,349.39 in the market. The trading volume recorded stands at $12.227 billion, whereas the supply has 17,928,862 BTC coins in play. The total market cap of Bitcoin is $185.656 billion as of this instant.

It seems that rich millennials i.e. the ones who landed on this earth post-1981 all the way up to 1996 prefer investing in Bitcoin. A similar development was noted in India as well, a nation renowned for blatant inequality prevalent in almost every single industry currently operating.

Grayscale had previously conducted research which yielded a conclusion that stated that future generations will favor cryptocurrencies over traditional assets like gold, crude oil and so on. Dinosaurs of the financial sphere still fail to see the potential in bitcoin as a revolutionary asset and have repeatedly struck down assumptions of Bitcoin being a “safe haven”.

Although we can expect the price of Bitcoin to go beyond $20,000 within the next 3 years.

Back in July, the Deutsche Bank layoffs kicked-off. The financial institution fired thousands which impacted people from London, Great Britain all the way down to Bengaluru, India. Now, it seems that they are a few steps away from being inducted into the Interbank Information Network [IIN] built under the guidance of JP Morgan.

Do note that JP Morgan was linked to a cocaine bust worth $1 billion. They are also being investigated by the Justice Department. This isn’t the first time the bank has landed in hot water. Both Deutsche and JPMC will focus on centralized governance [as always].

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.