Cryptocurrencies will survive the rise of central bank-backed digital coins, but their use will likely decline, Deutsche Bank says

From markets.businessinsider.com

Cryptocurrencies aren't going anywhere in the coming years, but their usage will probably decline when central bank digital currencies (CBDCs) are eventually rolled out, according to Deutsche Bank International Private Bank. Currently, cryptocurrencies like bitcoin are not a mainstream asset class, but it will become more robust over time, Christian Nolting, Deutsche Bank's global chief investment officer, wrote in an introduction to a special report. "The longer cryptocurrencies survive, the more robust and credible they become due to network effects (Metcalfe's law). Once we see some stability in terms of price ... (full story)