7/17/2022 0 Comments
Crypto analyst and economist Alex Krüger says that the world's major central banks will inevitably go on holding Bitcoin as a reserve asset just a few months ago.
“I’ve changed my mind. Major central banks will eventually hold Bitcoin as a reserve asset. Central bank’s gold demand has averaged $23.4 billion per year for the last ten years.
According to the economist, $1.2 billion was only the first step. Alex Krüger expects the number to go up, he stated “after the first central bank buys BTC as a reserve asset”.
What has just occurred Central African Republic will now hold Bitcoin as a reserve asset. We at BtcTap told friends, many smaller countries will slowly add Bitcoin as reserve currency.
However, now we are waiting for the first G-7 country to do the same. At BtcTap, we expect some very large banks to follow suit in the future.
How Can Bitcoin Help The Central African Republic?
The ability to buy and sell goods and services using bitcoin, a digital money that resides on a shared ledger across a global network of computers, depends on dependable, fast internet and widespread access to computers or cellphones.
However, according to estimates on the DataReportal website, the Central African Republic only has an 11 percent Internet penetration rate, or about 550,000 users online last year.
Less than half of people have access to mobile phones, and only roughly 14% have access to electricity, according to the Economist Intelligence Unit. What actions will be taken by the Central African Republic to achieve this remarkable feat?
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