Germany’s largest savings bank offers Bitcoin exposure to 50 million people

Germany's largest savings bank offers Bitcoin exposure to 50 million people

According to Financefwd, Germany’s largest savings bank, Sparkasse, plans to start a cryptocurrency service in 2022. This means that 50 million customers could enter the market for this new type of investment.

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Founded in 1778, the savings bank plans to enable more than 50 million of its customers to buy, sell or convert Bitcoin. Bank reported is currently also working on his crypto wallet.

While major banks continue to grapple with how to interact with Bitcoin, mainstream adoption seems to have arrived. A recent Grayscale report suggests that investors are increasingly inclined to own Bitcoin as a profitable long-term investment. In addition, Bitcoin is increasingly crossing generations to reach older investors, including retirees, who wish to view Bitcoin investment products as part of their investment portfolio.

Bitcoin price action

2021 remains an important year for Bitcoin adoption and use as more and more individuals and organizations interact with Bitcoin. BTC soared to an all-time high of $ 69,000 on November 10 after the launch of the first Bitcoin futures ETF.

Bitcoin (BTC) is currently in decline, trading at $ 48,000 at press time. The bulls were unable to convert the $ 50,000 level into support, resulting in a slide.

“Fear” remains the current short-term sentiment in the crypto markets, as can be seen in the Crypto Fear and Greed Index, which is an improvement on last week’s “extreme fear”.

Meanwhile, the price of Bitcoin remains limited to the $ 46,681 to $ 58,642 range, awaiting the next significant move.