Everyone is well aware of the struggles of Deutsche Bank and their bad bets over the past decades. The 150 year old bank on Sunday announced that they will be restructuring their business along with cutting a whopping 18 thousand jobs. Duetsche bank has trillions of dollars in loses due to poor investments that has not just Germany but the world economy on the brink. Out of all the news that they announced, the one piece of information that really stuck out to me was that they will be investing $18 billion in “technology” in a ditch effort to keep the bank solvent. Bitcoin is the technology that stands out. There isn’t any technology that is disrupting the banking system more than Bitcoin and blockchain technolgy. Many banks are feeling the pressure that Bitcoin and cryptocurrencies have been applying on their businesses. We have seen various bank attempt to create their own blockchains and we have seen many banks ditch their own blockchains (see sberbank) for existing decentralized crypto projects.
The embattled bank has made several attempts to restructure their business over the past decade. One of the biggest changes this time around is that Deutsche bank will be cutting their investment bank division, a clear signs that the times have changed. The world of banking is evolving and Deutsche bank is proof of that. We have known for years that banks have been buying bitcoin in the otc market, I think this announcement is a clear indication that Deutsche bank will be taking its investment in bitcoin and cryptocurrencies serious. With that said expect a wild ride for bitcoin in the coming months!
It would only make sense that banks would purchase cryptocurrencies! As much as I’d not like them to have any at all...
If they get their hands on a large portion of the currencies, that gives them more power over the price. Although it remains decentralized, this lessens the supply for others and creates a higher demand. There’s no stopping Bitcoin anyway, so I figured they would have adopted the “if you can’t beat em, join em” bandwagon a while ago, to grab their cut of the earnings to be made with crypto. Although I’m against bankers being in the crypto space as much as possible... if this is going to help out the German people, then I see no issue with it. The people of any country and their well-being should come first.
I agree.
That's Amazing!
Today, I heard in the news that Deutsche is about to bankrupt, and I think the same story is about to repeat as Goldman Sacks. Although I'm not sure if it will be rescued, I know that a very big crisis is coming. I'm new in this platform and I'm a believer in cryptocurrencies, I believe that it will be an economical refuge. Thanks for this important information.
Sounds great!
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i doubt that. they rather set up an own "crypto coin."
They should come please are the actual target of the blockchain technology to show them how to actually manage people investment and money although I know they will try to manipulate but it won't work they are already late to the sharade
Manipulation is what they do... All the to big to fail banks.
The entire Bitcoin network is peanuts to a bank.
Cg
Very true. I'll be glad to see what the price of btc will look like once we get price discovery.
As long as big banks don't act as "Whales" it is good. Therefore it is good to invest in coins with large market caps as there is less possibility of it getting hampered by these whales.
knowing their reputation as market manipulators they will surely behave as whales and bad whales at that.
those things will act as whales...some time bad whales..sure.
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Your post was mentioned in the Steem Hit Parade in the following category:
Everyone's aware of the struggles of Steem also, that's because they let people write crappy articles like this and get paid $123.85 to do it. Talk about a bad investment.