Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Cryptoknowmics 2022-07-03 20:06:50

Four Reasons Why Governments Should Hold BTC in Their National Reserves

Bitcoin (BTC) has grown so quickly in the last few years that it is now the most well-known cryptocurrency. As recently as November 2021, its value reached an all-time high as people found out how useful it is in the real world. Bitcoin is mostly used as an alternative way to pay for things, but it is also a good way to save money because it is more resistant to inflation. In some sections, it is felt that Bitcoin’s continued upswing and widespread use around the world could see it replace the U.S. dollar as the world’s reserve currency in the long run. Such views have become increasingly popular lately and many believe that it’s high time governments across the world started holding BTC in their national reserves. How did the Dollar Become the World’s Reserve Currency? 78 years ago, 730 delegates from 44 countries met in Bretton Woods, New Hampshire, to chart a post-war financial order for the world. The deliberations laid the foundation for the global financial system we have today. They led to the founding of the International Monetary Fund (IMF), the International Bank for Reconstruction and Development, and the U.S. dollar as the global reserve currency. The U.S. dollar remains the dominant reserve asset. Most countries keep a monetary reserve consisting of the dollar, precious metals, and other highly liquid assets to meet their financial obligations. These reserves are meant to regulate a country’s money supply and mana...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.