In the near future, central banks will need to introduce some sort of alternative system in order to preserve economic authority as many conventional currencies begin to lose public confidence due to inflation. Towards this end, the BIS is set to allow member banks to hold 1% of their reserves in Bitcoin.
The Bank for International Settlements (BIS) is now enabling member banks to hold 1% of their reserves in cryptocurrencies, which amounts to over $1.8 trillion in total. This may seem like a strange decision considering Bitcoin has lost about 60% of its value in just six months. Is there a hidden goal here, or is this just about accepting Bitcoin as a legitimate trading option?
The BIS has a long and infamous history of acting as a kind of control hub, giving commands to national central banks like the Federal Reserve, which is why it is known as the "central bank of central banks." Over the past ten years, we have witnessed the central banks of numerous nations frequently ...