According to Eurgéne Etsebeth it will. Etsebeth is a former central banker at the South Africa Reserve Bank. He was the head of the 'virtual currency and distributed ledger working group'. With his expertise, he predicts that central banks around the world will be forced to buy cryptocurrencies in 2018, they will have no other choice.
Behind closed doors central banks buy, sell and stock currencies, marketable assets, special drawing rights and gold every day. With these reserves, central banks must safeguard the liquidity, trade and security of national financial interests. But in 2018, cryptocurrencies will also be added, according to Etsebeth.
The central banks around the world hold huge reserves of each other's coins. In addition, they also have safes full of gold and use special drawing rights (SDR) from the International Monetary Fund as an international currency. These SDRs consist of the US dollar, the euro, the Japanese yen, the British pound and the Chinese yuan.
But the most interesting thing is that at a price above $ 17,600 Bitcoin is larger in size than all SDRs. According to Eurgéne Etsebeth, this will compel the global central banks to include Bitcoin and possibly other cryptocurrencies in their national reserves.
Crypto revolution
In 2017, Christine Lagarde already announced that cryptocurrences can cause a massive disruption in the international financial landscape. The big central banks can no longer ignore the biggest international currency which is Bitcoin at that point. Bitcoin is also the only international currency that is traded 24/7.
According to the former Central Banker of South Africa, Bitcoin and possibly other cryptocurrencies will first be added as marketable assets. Central banks will then purchase cryptocurrencies through external fund managers. But ofcourse they will try to keep this a secret for as long as possible.
Buy crypto before the banks do?
I hope everyone who is reading this post has a little cryptocurrency portfolio, bulltimes are coming back as the correctiontrend is broken, in a few months coins will probably be back at ATH and even set new records! If the banks are really finally going to buy crypto, you will not want to miss out on this moon! HODL and ride the waves.
Disclaimer: I am not a financial adviser nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.
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Upvote, comment or resteem if you are excited to see cryptocurrencies recover and set new highs in the coming weeks!
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MAXIDIGI