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Here is How Central Banks will End Up HODLing Bitcoin (BTC) Like they Hold Gold

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Many central banks across the globe hold gold. As a matter of fact, most of the gold is locked up in government vaults all around the world. These governments hold gold as one of their reserve assets to hedge against periods of market unrest and for periods when they need to liquidate their assets quickly. Nothing moves faster in the markets than gold. But its liquidity is being threatened by another form of gold that is known as Bitcoin (BTC).

Yes. Bitcoin has often been referred to as the digital gold of the 21st century. Reason being that it is in constant demand and it embraces the most revolutionary technologies of cryptography and blockchain technology. One can claim that it is all hype and mania, but the current Bitcoin rush can be compared to the Gold rush that led many Americans to look West to California in the 1800s. The current price predictions of BTC are as high as $500k by 2024.

So, could central Banks end up HODLing Bitcoin (BTC) as part of their national reserves?

On an honest note, it would not be a surprise if we found some of the prominent governments holding some of their assets in Bitcoin. Sure, they would not admit it. But any shrewd investor who sees the potential in BTC would want to grab some before its price goes up to the Moon. This is primarily due to the fact that we already know that the amount of BTC to be minted is 21 Million. This means it is finite.

Over 80% of the total of 21 Million BTC in Satoshi’s whitepaper has already been mined. Utilizing the common economics theory of supply and demand, as BTC becomes more popular, so will its price. Therefore, individuals and governments will be looking to stockpile the digital asset. The last BTC is calculated as being mined in 2145 so there is a lot of time for its price to continue to skyrocket. BTC is indeed digital gold.

Similar sentiments of BTC replacing Gold have been expressed by billionaire investor Bill Miller who was quoted as saying:

“If it becomes much more valuable its then likely that various central banks begin to think of it as another potential asset just like they hold gold. That would open up the market extremely significantly.”

Miller, who has put in about 1% of his liquid net worth on Bitcoin, thinks of the digital asset as a non-correlated asset that can be compared to gold. He noted that BTC is easily more transportable than gold and can actually be used to buy things. This observation by Miller adds to the earlier mentioned liquidity that central banks look for in an asset. BTC can be easily sold by central banks on any of the numerous exchanges during times of need.

In conclusion, the value of BTC will most definitely go up since we all know that it is finite at 21 Million BTC to be minted. With its value going up and liquidity being as simple as typing in a BTC address and sending, more and more central banks will consider the digital asset as part of its reserve assets.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

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Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

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The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

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