11% of central bank governors see “cryptocurrencies like bitcoin” as alternatives to gold: UBS survey

UBS research shows that central banks see the benefits of investing in cryptocurrencies like bitcoin. 28% see the advantages of cryptocurrency being an unrelated entity, and”11% would see it as an alternative to gold.”

Central banks see benefits when investing in cryptocurrencies like bitcoin
27, conducted by UBS. the annual reserve management seminar explores the prospects of cryptocurrencies as an investment for central banks. June April-June survey of nearly 30 central banks in all regions of the world interviewed central bank governors, UBS said Dec. According to Switzerland’s largest bank, the survey is “one of the most authoritative images of official reserve management activities.””

Central bankers were asked what would be the motivation for central banks to invest in cryptocurrencies such as bitcoin. The most popular answer was” acquiring / accumulating information about the crypto investment process and Investment Management”.UBS explained: “83% of respondents think the learning process to invest in and manage this new asset class will be valuable to educational institutions.”

The second most popular response was” unrelated entities.”The” third ” signal of the institution’s technical progress.”Another common response was”the Golden Alternative (independence from the Western financial system).””UBS wrote:

28% of respondents see the benefits from cryptocurrency as an unrelated asset, and 11% see it as an alternative to gold.

27. annual UBS Reserve Management Seminar. Source: UBS
Central bankers were also asked whether they saw gold-moving cryptocurrencies as safe-haven assets in the future. Among those surveyed, 84% said no, 0% said yes and 16% said they did not know.Dec. “Most 84% of respondents do not believe that cryptocurrencies will replace gold as a safe haven,” UBS said.

The study also asked central bankers about the central bank’s digital currencies (CBDC). 46% o

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