Bitcoin yield over the past 5 years was 99% higher than the shares of leading banks in the world

Cryptocurrencies

It seems that the largest banks in the world are literally useless because of the appearance of bitcoins, judging by the profitability of their shares.

The data from a survey by Messari say that the stock returns of the six largest lenders in the world over the past five years look very sad compared to similar indicators of BTC.

So, Messari says that since 2014, the yield of Deutsche Bank was lower by 98.9% compared with the profitability of bitcoins.

Deutsche Bank, of which there were 18,000 employees, turned out to be the worst among banks, compared to bitcoins.

The next was Wells Fargo, whose share yield declined by 95.3%, followed by Morgan Stanley and Citigroup, with 92.9% and 92.2%, respectively.

The profitability of Bank of America’s shares fell by 90.4%, and the “best” turned out to be the largest US bank JPMorgan with a 89.5% decrease in profitability compared to Bitcoin.

Messari researcher Jack Purdy, who tweeted such data, said:

“Long live the bitcoin, down with the bankers.”

Now banks are under pressure due to global instability and the growth of decentralized cryptocurrencies. The banking industry is also concerned about the announcement of Libra’s crypto project from Facebook, which could generate new ways to bypass consumers in the banking system.

Recently, the Central Bank of China (PBoC) has intensified the development of its own cryptocurrency, stating that this will be a direct response to the Libra coin and its possible peg to the US dollar.

Also, according to some data from the United States, the risk of recession for the world’s largest economy is now the highest, even compared with the previous financial crisis, which was after 2008.

However, despite these risks, bankers continue to downplay the impact of cryptocurrency on the economy as a whole. We recently said that the ECB chief economist refused to recognize Bitcoin as a currency, also downplaying its value, but received a very tough response from supporters of cryptocurrency on Twitter.