Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
, Will governments start buying Bitcoin?, Forex-News, Forex-News
Ethereum Classic

Will governments start buying Bitcoin?

, Will governments start buying Bitcoin?, Forex-News, Forex-News

, Will governments start buying Bitcoin?, Forex-News, Forex-News

Increasingly, the adoption of Bitcoin is expanding throughout the world. Thus, in recent months companies like Square have announced millionaire investments in cryptocurrency, as a savings mechanism. However, some analysts believe that this trend will not stay in the private sector. Rather, as the investor known as WhalePanda commented in the Tweet of the day, governments will start buying Bitcoin:

Governments buying Bitcoin?

Although at this time the idea of ​​governments acquiring Bitcoin may sound very strange. The truth is that this is a very real possibility for the medium term, according to several crypto market analysts. Especially due to the quality of the cryptocurrency as an asset store of value.

This is what has apparently been happening with several companies that, like Square, rely on Bitcoin to protect the value of their money. And, according to these analysts, the price of BTC does not have a direct correlation with international financial markets. Therefore, the virtual currency would be a perfect savings mechanism to avoid the negative consequences of collapses in the world economy.

The value of Bitcoin could prompt governments to buy Bitcoin. Source: CoinDesk

Although this thesis is not accepted by everyone in the crypto world. It would be the basis of the belief of many within the cryptocurrency community, that we could soon see governments of various countries acquiring Bitcoin as a reserve currency. Precisely what WhalePanda seems to imply through its Twitter account.

«So which country will be the first to buy Bitcoin to put it on its balance sheet?«.

Thus, WhalePanda is nothing but the expression of the hope of a part of the crypto world. Which is convinced that governments will start buying Bitcoin to escape the inflation of traditional fiat money. A belief that, although it is yet to be proven, seems to be possible if the latest movements of private companies are taken into account, those that have come closer and closer to the crypto market.

, Will governments start buying Bitcoin?, Forex-News, Forex-News

Get real time updates directly on you device, subscribe now.

, Will governments start buying Bitcoin?, Forex-News, Forex-News

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More