Deutsche Bank analyst Marion Laboure pointed to the potential of bitcoin and noted that the rise in Tesla shares hints at the exponential growth of the first cryptocurrency.
Labourt stressed that Tesla is only five years older than Bitcoin, and the change in attitudes towards this company began only 1.5 years ago. Since then, the electric car maker’s stock has grown steadily and extremely rapidly.
“The next 2-3 years should be a turning point for Bitcoin. Cryptocurrency can realize its potential in real results. Bitcoin capitalization is based on the transition to the use of cross-border digital currencies. My hypothesis is that bitcoin, which is already the leader, will benefit the most from this and will become an important means of payment in the future, ”Laboure said.
At the same time, the analyst expects that the rate of the first cryptocurrency will remain very volatile. In addition, large purchases of BTC can change the balance of supply and demand in the cryptocurrency market.
Fans and opponents of Tesla and its head, Elon Musk, have always argued violently about the future of the company, and bitcoin is causing the same controversy that attracts the attention of new users.
“Once upon a time, brokers and banks called cryptocurrencies too volatile and refused to recognize them as real assets. But now the approach to cryptocurrencies has changed a lot, we constantly see buying bitcoins from institutional investors as an asset to hedge inflation risks, ”said Stephen Kelso, head of ITI Capital’s financial markets.
This week, Morgan Stanley, a major investment bank, gave its clients access to three bitcoin-based funds, but with certain restrictions.
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