Central banks will buy cryptocurrency in 2018 1 3836

At present, the G7 does not consider cryptocurrency as a potential asset class. You will not find bitcoin, ethereum or zcash in the list of instruments and currencies of central banks.

Everything can change in 2018

Central banks of G7 will start buying cryptocurrencies to support their reserves, according to Eugene Etsebeth, a former banker of the Central Bank of South Africa.

In 2018, the central banks of the G7 will recognize bitcoins, and other cryptocurrencies will become the most significant international currencies of market capitalization. This event, along with the global nature of the cryptocurrency with 24-hour access to trade, will make them in-demand. In addition, they soon will become investments within the investment tranche of central banks.

The understanding of the systemic weakness of conventional currencies becomes obvious and contrasts with the growth of the cryptocurrency. In future, the executive committee of the central banks, including directors, presidents, and chairpersons, will deviate from the current investment. Banks will add bitcoin and other cryptocurrencies to the list of securities and currencies.

Most central banks of the G7 are likely to use external funds to invest in the cryptocurrency. We cannot expect that this information will be freely available. Maybe, this will happen behind closed doors.

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