Wednesday 4 November 2015

Bitcoin to be the world's sixth largest global reserve currency?

Bitcoin is going to be the world’s sixth largest global reserve currency, a new study has found, as blockchain becomes increasingly important to mainstream lenders.
Interviewing 30 leading bitcoin companies, mergers and acquisitions adviser Magister Advisors found that over the next 15 years bitcoin is set to soar in popularity as a reserve currency, a currency held by governments and institutions in large amounts, as part of their foreign exchange reserves.
Today, the US dollar is the most popular reserve
Bitcoin has been having a bullish month, with the price soaring to a 2015 high last week, and trading at $374 today. The cryptocurrency was also boosted by the European Commission’s recent decision to exempt it from VAT, effectively accepting it as a currency.
But the real game changer, the study argues, is likely to be the technology that bitcoin builds upon: the distributed ledger known as the blockchain.
Magister Advisors estimates that the top 100 global financial institutions will invest over $1bn on blockchain-related projects in the next two years. Major banks, including Barclays, and UBS are increasingly experimenting with blockchain to keep up with the developing technology.
Jeremy Millar, a partner at Magister Advisor, said:
"We have now reached a fork in the road with bitcoin and blockchain. Bitcoin has proven itself as an established currency. Blockchain, more fundamentally, will become the default global standard distributed ledger for financial transactions."
Read the full article here

9 comments:

  1. I have joined your feed and sit up for searching for more of your great post.
    Additionally, I have shared your web site in my social networks.

    hotmail sign up login

    ReplyDelete
  2. CoinDesk
    This is one of the top new sources for bitcoin enthusiasts. In fact, it is the largest bitcoin news media platform in the world. The site is packed with reports and tools that break down the trends and patterns in cryptocurrency. I recommend checking out the reports on the research page.

    ReplyDelete
  3. This comment has been removed by the author.

    ReplyDelete
  4. Thank you because you have been willing to share information with us. we will always appreciate all you have done here because I know you are very concerned with our. Bitcoin Revolution App

    ReplyDelete
  5. Great blog post get the best Online bookkeeping services at very reliable prices.

    ReplyDelete
  6. Very insightful update, i will also say this here. Bitcoin Investment is one of the best ways to achieve financial freedom. For a beginner there are so many challenges you face. It's hard to know how to get started. Trading the Crypto market has really been a life changer for me. I almost gave up on crypto currency at some point not until saw a recommendation on Elon musk successfully success story and I got a proficient trader Mr Carlos, he gave me all the information required to succeed in trading. I made more profit than I could ever imagine. I'm not here to converse much but to share my testimony; I have made total returns of 1.6BTC from an investment of just 0.6BTC. Thanks to Mr Carlos I'm really grateful especially during the lock down. I have been able to make a great returns trading with one of the best platforms around. I discovered I made more income than what my current job pays. I urge anyone interested in Cryptocurrency to take bold step by giving the Bitcoin market a trial if you really want to make more money. You can reach him on WhatsApp (+14242850682)

    ReplyDelete
  7. Relationships are made in paradise. The years spent along with one another encapsulate your adoration, care, and tolerance. For such connections, the festivals ought to be stupendous. Comment on the long periods of harmony with your friends and family by giving them some marriage anniversary gifts for couple. Commemorations have forever been extraordinary, be it the first, or the 50th.

    ReplyDelete
  8. Give your best friend the perfect birthday present by creating a custom-made birthday card with text written by your AI content-writing tool. Order a Gift from sajsajawat this is the best website to buy a Birthday gift for your best friend.

    ReplyDelete