11% of Central Bankers Consider 'Cryptocurrencies Like Bitcoin' Gold Alternatives: UBS Survey

11% of Central Bankers Consider 'Cryptocurrencies Like Bitcoin' Gold Alternatives: UBS Survey

THELOGICALINDIAN - A UBS analysis finds that axial bankers see allowances in advance in cryptocurrencies like bitcoin 28 see allowances from cryptocurrency actuality an uncorrelated asset and 11 would accede it as an another to gold

Central Bankers See Benefits in Investing in Cryptocurrencies Like Bitcoin

The 27th Annual Assets Administration Seminar Analysis by UBS explores the affairs of cryptocurrencies as investments for axial banks. This survey, conducted amid April and June, questioned axial bankers from abutting to 30 axial banks in all regions globally, UBS explained. According to Switzerland’s better bank, this analysis “is amid the best accurate depictions of official assets administration activities available.”

Central bankers were asked what the action for axial banks to advance in cryptocurrencies like bitcoin would be. The best accepted acknowledgment was “Learning/ architecture up ability about crypto advance action and advance management.” UBS described, “83% of participants accept that the acquirements action itself of advance and managing this new asset chic would be admired for their institution.”

The additional best accepted acknowledgment was “Uncorrelated asset.” The third was “Signaling abstruse advance of the institution.” Another accepted acknowledgment was “Gold another (independence from Western banking system).” UBS wrote:

Central bankers were additionally asked accurately whether they see cryptocurrencies displacing gold as a safe anchorage asset in the future. Among respondents, 84% said no, 0% said yes, and 16% said they did not know. “A majority of 84% of participants do not accept that cryptocurrencies will displace gold as a safe haven,” UBS noted.

The analysis additionally asked axial bankers about axial coffer agenda currencies (CBDCs). 46% of respondents adumbrated that CBDCs and cryptocurrencies will co-exist, acquainted that bitcoin and added cryptocurrencies will not be displaced by axial coffer agenda currencies. Meanwhile, 33% accept that CBDCs will displace cryptocurrencies.

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