Deutsche Bank Joins Bitcoin Bashing Brigade

In a voice that is all too familiar for Bitcoiners, another major lending institution has warned against everyday investors putting their money into Bitcoin. This time it is Deutsche Bank and their Chief Strategist Ulrich Stephan.

The tirade against Bitcoin is starting to wane as some of the more established Wall Street names warm to the digital coins. However, the banking sector is still approaching it mostly with extreme caution to disdain.

Delving deeper into the reasons behind this, it is understandable why a hegemony like the banking sector would feel challenged by a disruptive money system that could render them obsolete. But the spread of warnings and fear is starting to wear thin.

Usual rhetoric

The banking sector seems to be stuck on rhetoric that itself is aging and becoming obsolete. The usual excuses, such as volatility and regulation are the sticking points that are keeping banks back – so they claim.

“I would simply not recommend this to the everyday investor,” Stephan said.

In Germany, according to the strategist, the citizens are generating hype around Bitcoin, yet they are not investing as heavily as they hype suggests. Even the interest in stocks is low. Perhaps, it has a lot to do with the general attitude of such banks, and even the financial regulators…

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