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21.09.2020

The cost of the first cryptocurrency will at least double if US banks invest their assets in bitcoin. This opinion is shared by the popular analyst Charles Edwards, who shared information on his Twitter profile. He believes that organizations can use digital currency to invest and hedge risks.

инвестирование банков в криптовалютыThe specialist stressed that the support of the first cryptocurrency by banks is by no means a fantasy, but a promising direction. Grigory Klumov, the creator of the Stasis stablecoin platform, agrees with his opinion. The expert claims that soon central banks will start working with digital currencies like other companies. This will come immediately after the implementation of a convenient and reliable infrastructure for their maintenance.

Klumov is convinced that central banks will invest in the first cryptocurrency after a while. At the moment, there is a lack of reliability of the conditions for storing a digital asset. A similar process was launched in Germany 6 months ago – German banks can hold cryptocurrencies on their balance sheets.

Some banks and hedge funds are already using digital currencies. This allows you to significantly increase your income, says EXMO specialist Maria Stankevich. However, organizations conduct transactions either with a small number of cryptoassets, or operate through subsidiaries.

United Traders CEO Anatoly Radchenko said that financial and technical platforms already provide customers with the opportunity to work with digital currency. Among them are resources such as the Revolut online bank, the Сashapp service and others. The industry is developing rapidly, and it is extremely difficult to find a factor that will negatively affect this.

Nikita Zuborev, analyst at BestChange.ru, disagrees with the views of Stankevich and Radchenko. The specialist believes that banks will not use digital currency. At this time, there are no obvious prerequisites for this. It is likely that organizations will adopt stablecoins, but even then there will be no significant change.

Such radical changes are not relevant at this time. Investing in stable cryptocurrencies would be a more reliable and less risky option, but this will practically not change the investment structure. This will only affect the form of circulation of national currencies.

What factors can affect banks’ investment in bitcoin?

Digital currency quotes are very volatile, which is typical for the cryptocurrency market. For example, in March of this year, the cost of the first digital currency fell by more than 2 times in 48 hours. It is likely that it is for this reason that many banks do not want to risk working with new assets.

Stankevich voiced another possible reason. The expert argues that the only factor influencing the decision-making by organizations to work with cryptocurrencies is the lack of control over transactions carried out in the market.

Klumov adheres to the same position. He believes that it is precisely because of the lack of legislation that banks are afraid to use cryptocurrencies. There are some questions, the answers to which are extremely ambiguous:

1) How will central banks control digital currency transactions?

2) How much to set the amount of reservation if organizations invest their capital?

In addition, staff need to be trained to handle the new asset. It is also necessary to understand the methods of storing digital currency, but this task has already been practically resolved today.

It can be concluded that experts have different opinions. Some are convinced that investment by central banks of financial resources in digital currencies is a direction in which the industry can develop extremely promisingly. Others believe that the number of obstacles at the moment does not allow companies to believe that it is effective. Among the obstacles experts highlight the volatility of cryptocurrency rates, the lack of clear legislation, and many others.