Central Banks Begin Buying Cryptocurrency in 2018

Bitcoin start 2018

          Central banks will begin holding bitcoin and Ethereum next year, Peter Smith, CEO of Blockchain said. Behind closed doors, G7 central banks are sluggish traders that buy and sell the same foreign currencies, marketable securities, special drawing rights (SDR) and gold day in and day out. Central bank traders follow the investment policy enforced by the executive committees with specific asset allocation targets. In order of importance, the objective for foreign reserves trading generally is liquidity, security and returns (in last place). “Bitcoin is already a top 30 currency by supply, and this trend, and pressure to hold digital currency as part of reserves will only accelerate as the price rises,” Smith said.

 

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