Crypto economy enthusiasts are certain that cryptocurrency importance in the world will exponentially grow in the near future and countries will start to create reserves not only in dollars, euro etc., but also in bitcoins and altcoins. Are there any chances for crypto money to become the reserve currency and under which conditions this can happen
- The currency can become recognized as a reserve currency if it has the following properties:
- stability (this means its exchange rate fluctuations must have minimal funds loss risks
- free conversion (when changing the currency for other currencies is easy
- the economy of the state issuing the reserve currency must be a considerable share in the world economy
- the market of the state issuing the reserve currency must be developed.