You Must Buy This Cryptocurrency! – Cryptokoin.com

Harvard economics researcher Matthew Ferranti has published a new study report recommending which cryptocurrency central banks around the world should start buying.

Harvard researcher says central banks need this cryptocurrency

Matthew Ferranti, a fifth-year PhD candidate in economics at Harvard, has published a new working paper arguing that central banks should start buying Bitcoin. Overseen by Ferranti’s Harvard adviser and former IMF economist Ken Rogoff, the article claims that central banks will benefit from holding small amounts of Bitcoin. The report says that countries facing sanctions or with the potential for economic sanctions should hold more Bitcoin as a hedge substitute for gold.

Ferranti also emphasized that countries can use the coin to circumvent sanctions imposed by the US and other powers. However, arguing that gold is the best protection alternative, he said:

Gold is much less volatile. Like five times less volatile.

Gold or Bitcoin?

Ferranti says countries will benefit from holding cryptocurrencies in addition to gold. He attributes this to the lack of correlation between the two and the increase in diversification. He also noted that countries at risk of sanctions have weak infrastructures and are therefore unlikely to obtain enough gold to adequately hedge their risk.

How prone are countries to accept cryptocurrencies?

Although Iran announced last year that it will hold Bitcoin in its reserves, the world is still far from this approach. Current research reveals the following findings:

  • In Europe, the UK and Switzerland top the rankings despite facilitating the adoption of large hedge funds.
  • English-speaking countries, the US, the UK, and Australia lead the way in crypto adoption.
  • The USA leads by far in North America. China and Russia still hold significant parts of the crypto market. However, institutional and professional traders are leading the way in buying and using crypto in these countries. Crypto exchanges create popular tools for acquiring crypto in the USA and Russia.
  • Figures in China have been affected by the crypto ban introduced in the last quarter of 2021. The country dropped to 13th place. Activity on P2P marketplaces and exchanges has drastically declined, placing the country north of 100 for P2P transactions.
  • Numbers from the US also dropped. The country currently ranks 8th, two places behind compared to 2020.
  • Japan recorded the lowest adoption rates at 4%.
  • In Europe, 11% of respondents from Greece owned or used cryptocurrencies. This was the highest rate in the EU.
This Is The Only Cryptocurrency To Buy Right Now

Meanwhile, in developing countries, Vietnam, India and Pakistan lead the way, according to Chainalysis data. Populations in these economies have a different view on holding coins, especially Bitcoin. Many see it as a tool for savings, money transfer and business transactions. In the Philippines, some exchanges have licenses to function as remittance companies. cryptocoin.com In this article, we have conveyed the latest developments regarding regulations from Turkey.

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