Deutsche Bank has always been neutral when it comes to crypto assets. In a recent statement, however, all of that has come to change.
In fact, the bank now sees confident that big things are bound to happen for digital assets.
Deutsche Bank Expects Major Growth
While it may not replace cash anytime soon, it can certainly pose a threat to other existing payment methods.
According to Deutsche Bank, there will be over 200 million cryptocurrency wallet users globally by 2030.
While that seems like a decent number, it seems likely that the final tally will be much higher.
This positive attitude by the financial institutions comes as somewhat of a surprise.
The company recently released new research that focuses on the future of payments.
As it turns out, the growth of cryptocurrencies is similar to early-stage adoption of Internet technology.
However, there are some caveats to take into account.
The user numbers for blockchain and crypto wallets are much smaller compared to the internet, despite showing similar growth curves.
Now that Bitcoin has been around for over 11 years, actual growth has become apparent.
Despite this positive trend, there is still plenty of work ahead before any form of mainstream adoption will occur.
The optimism by Deutsche Bank is heartwarming, but realists will know that nothing comes easy in this industry.