Some central banks are showing interest in Bitcoin

A survey of 30 central banks came up with somewhat surprising results as some central bankers showed interest in Bitcoin and showed signs of openness to cryptocurrencies.

Some central banks are showing interest in Bitcoin

The results of this year’s USB Bank survey of central bankers show that 14% of respondents believe that central bank digital currencies (CBDCs) will increase pressure on bank customers to invest in cryptocurrencies, while 83% of respondents said That learning to invest and manage this new asset class can be valuable.

“28% of respondents consider crypto to be an independent asset and another 11% would see it as an alternative to gold,” the report added.

“When I hear central bankers say that they don’t see crypto as important as a store of value,” said Joshua Scigala, co-founder of TheStandard.io crypto funding project, which is more valuable than gold, is a sign of complete ignorance. “

He also asked the question: “Now imagine that you are a saver with the option of generating an annual return of 6 to 12% through decentralized financial markets, or you could stick with the old central banking system and pay minus 1%. Interest! Which one would you choose? “

Meanwhile, 46% of respondents said that they believe that CBDCs will not replace Bitcoin and other cryptocurrencies, while 33% hold the opposite view and 21% do not.

In both cases, around 40% of the central banks surveyed expect the introduction of CBDCs within the next three years. About 46% of respondents confirmed that their central bank was involved in, or expected to be involved in, CBDC pilots in the next 1 to 3 years.

The majority of attendees said they “cannot yet predict whether reserves will be placed in CBDCs issued by other central banks in the near future,” said UBS, adding that “57% of attendees will have no significant impact on that Saw inventory management in their organization “. , while 24% said it could have an impact on their back office operations. “

Luke Sully, CEO of treasury technology specialist Ledgermatic, said, “Bitcoin as a foreign exchange reserve cannot be publicly supported by any central bank for the simple reason that it is not controlled by any country.” According to him, BTC and gold can be considered safe havens in economic environments Downturns are seen both as a hedge against inflation and as the government influence that cash has.

In addition, according to the survey, more than 60% of respondents do not believe that the introduction of CBDC will diminish the role of the USD, and more than 50% are still unknown how China’s digital yuan will affect the international market.

Not too surprised by the results of this survey. In fact, Bitcoin has seen a staggering growth from zero to legal tender (El Saslvador) in just 12 years.

The number of users doubles every year.

Will central banks ignore or upgrade Bitcoin? This is a question that cannot be answered immediately, but this survey shows that some central banks are showing interest in Bitcoin and are starting to pay attention to learning and investing in Bitcoin.

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