Deutsche Bank has said it thinks bitcoin will stay “ultra-volatile” because of its limited tradability, claiming that only some large buys or sells could greatly impact the cryptocurrency’s equilibrium.

In their recent message, the company stressed the cryptocurrency’s lack of liquidity – which has a limited 21 million coin supply – as one of its roadblocks. So far, nearly 89% of bitcoins have been mined. The predicted year for all bitcoins to be created is 2140, around one hundred years from now

“As an investment, bitcoin’s liquidity is staying low,” the report claimed. “Last year, 28 million bitcoins were exchanged (150% of total coins in circulation), compared to 40 million shares of Apple (which is 270% of its total shares).”

The center of the comparison between bitcoin – often called digital gold – and physical gold comes down to supply, which are both limited, the report stated. Because of this, one large driver of the price is the demand.

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The bank also raised concerns surrounding bitcoin’s rising value and whether it is enough for the digital asset to transform into an asset class. But a changing point could come sometime in the next few years, the company said, after the cryptocurrency’s performance gets clearer.

“Bitcoin’s overall value of $1 trillion means it is too big to ignore,” the report said. “Some people believe it is a commodity, some a currency, and some see it is a stock. But its total value is in the top 10, both as a stock and currency.”

Bitcoin has had its price increase by 600% year-to-date as opinions divide on whether it is a long-term asset or a speculative bubble. It has had a huge run in March, reaching a $1 trillion market value again, and hitting a new peak over $60,000, after an already excellent February.

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