Deutsche Bank Interested In Crypto Investment

It’s been just revealed that the mass adoption of crypto continues to go great these days. Check out what an important bank is doing to boost crypto adoption.

Financial giant Deutsche Bank’s asset management arm is reportedly considering making investments in the crypto industry. The move is reportedly aiming at speeding up its growth after global markets fell last year.

According to a new Bloomberg report, the German banking giant’s DWS Group is already in discussions to invest in two Germany-based crypto firms.

“Sources told Bloomberg that the DWS Group head, CEO Stefan Hoops, is in negotiations to buy a minority stake in Deutsche Digital Assets, a crypto asset manager,” as the online pubcalition the Daily Hodl notes.

He is also looking to invest in Tradias, a digital assets trading firm owned by Bankhaus Scheich, a market maker in securities and digital assets.

“Per the report, Hoops said during an earnings call last week that the current downswing in crypto markets could present DWS with “interesting opportunities” for investments,” the same notes revealed. 

Hoops also said during the call that DWS has “started to assess strategic partners and commence due diligence on potential targets,” including digital assets.

Popular crypto strategist Michaël van de Poppe believes that Bitcoin (BTC) is gearing up for a burst to the upside as it now trades above a key level.

Van de Poppe said that traders who are betting against the king crypto might provide the necessary fuel for a rally toward his target of $28,000.

“People properly eagerly start to short, so cracking $23,200 is inevitably continuation towards $26,000-$28,000 on the charts.”

While the analyst says he’s still looking for a correction toward $21,700, he acknowledges that Bitcoin trading activity is on the up, suggesting that momentum is on the side of BTC bulls.