Will at least one federal bank starts holding btc in upcoming crypto summer?

[rationaltechoptimist]

How probable is it? Who is more likely to do this apart from St. Louis Federal Reserve? Will it immediately trigger a bandwagon effect when it happens or it will take time for others to follow?

[davis196]

How probable is it? Who is more likely to do this apart from St. Louis Federal Reserve? Will it immediately trigger a bandwagon effect when it happens or it will take time for others to follow?

There's no reason for going that and I don't think that the federal banks are allowed by the legislation to hold crypto.US banks will continue to be hostile towards crypto,even if the US congress accepts more crypto-friendly bills.

[Pursuer]

I don't think it will happen any time soon and when it happens it won't be a big scale thing, maybe some small bank in a small country would do it in a couple of years but I don't see it happening now because they still don't think bitcoin is threatening them because it is not yet widely adopted as a payment method.

additionally the banks want full control that is why they have chosen to create their own tokens (example JPM) instead and try to sell people that centralized idea. and that will take a couple of years of trying and failing before they realize it was a mistake.

there is also some laws in some countries that prevents banks from getting involved with bitcoin. for example the common thing you have been hearing over the past years saying "China banned bitcoin" was in reality China banning "banks" from buying bitcoin.

[Nadziratel]

How probable is it? Who is more likely to do this apart from St. Louis Federal Reserve? Will it immediately trigger a bandwagon effect when it happens or it will take time for others to follow?

In theory it might be possible. But, when the volatility is so high, I don't know which central bank reserves to hold the Bitcoin. I think we still need time for this action.

[stompix]

How probable is it?

Somewhere between 0.00001% and 0.0000%  

Who is more likely to do this apart from St. Louis Federal Reserve?

Do you think that if they published two articles in which they don't bash crypto they are going to deal with BTC ?
It's not up to them! They might be independent in some affairs but when it comes to what they deal in there are hard draw lines and none will even try to do it.

Besides, what would be so great if they do, other than giving them the possibility to manipulate the markets at will?

[Ailmand]

How probable is it? Who is more likely to do this apart from St. Louis Federal Reserve? Will it immediately trigger a bandwagon effect when it happens or it will take time for others to follow?

I doubt if federal banks will ever support cryptocurrency since they are against it. Cryptocurrency had made people forget about banks since using crypto vs bank is far more convenient, time-saving, and cheaper.

However, due to anonymity, who knows whether if such banks are secretly holding bitcoin. It is possible, but I doubt if federal banks will ever announce it's support for bitcoin.

[Haunebu]

Seriously? You expect banks to start holding crypto just because some institutional investors are getting on board and the market is bullish currently? This will most likely never happen since the centralized authorities hate BTC and what it stands for.

There is a slim chance that this could actually happen in the future due to various reasons like a new crypto loving President, reduced volatility etc.

[talkbitcoin]

if by "upcoming crypto summer" you mean this year where bitcoin price will be rising most of the year. then the answer is obviously no because banks are still stuck in their illusion of power and the fact that bitcoin can't defeat them which is why they keep spreading FUD against bitcoin instead of adopting it.
but in my opinion it will happen, not in form of investment but in form of offering services as the banks normally do. services like exchanging, loans,...

[xvids]

How probable is it? Who is more likely to do this apart from St. Louis Federal Reserve? Will it immediately trigger a bandwagon effect when it happens or it will take time for others to follow?

I doubt if federal banks will ever support cryptocurrency since they are against it. Cryptocurrency had made people forget about banks since using crypto vs bank is far more convenient, time-saving, and cheaper.

It is true and I strongly agree Crypto and banks are agains each other .
Crypto is for those who wants financial freedom who wants decentralized money,
While on the other hand banks wants to be in control so I don't think that they would support it .

However, due to anonymity, who knows whether if such banks are secretly holding bitcoin. It is possible, but I doubt if federal banks will ever announce it's support for bitcoin.

This remind me of the "crypto movie" if I am not mistaken there was a scene that his friend told him that banks own a huge amount of Bitcoin.

[bitmover]

I wouldn't doubt that socialist countries and dictatorships would be first ones to buy and accumulate BTC. As those government have less institutions to control corruption from politicians, they have more power and may just buy BTC if they want without many bureaucratic problems.

Countries like USA and European have much more regulations and legislations which prevent government from investing in BTC directly.

[traderethereum]

It will take time for the other to follow and it will not happen by instant.
All the things we will see need a process, and it's not easy to convince other people to start holding bitcoin.
But I wonder how the banks will survive if they see the volatility of the bitcoin price and how they will do if that is happening because many people get panic when the price moves

[Genemind]

Banks see the edge and advantage of cryptocurrency so I don't think they would support it but I believe that they would accumulate it personally. Banks are against it but people behind banks also aim to gain a profit so it isn't impossible for them to purchase Bitcoin.

[NeuroticFish]

How probable is it?

Somewhere between 0.00001% and 0.0000%  

I'd rise those numbers by a great deal. There's a very big chance that Kim, Vladimir and maybe others too have secured some Bitcoins in their central banks, just in case...
Of course, this will not go public and this will not pose as an example for other central banks.
But it's a good case of "never say never".

[dothebeats]

The whole entity itself wouldn't be buying bitcoins directly and that is for sure, although we can't say much for the people under the said organization/entity as they still have different interests that may or may not be aligned with the federal banks'. Also, one can easily tell that they're not into it simply because they're busy tending their own thing (fiat and other financial services) and are doing the best they can in order for the fiat to not collapse any time sooner.

[Blockchain Mechanic]

Most probably would not risk direct affiliation with currencies they do not control, as this would immediately collapse their agenda against their use.

[hatshepsut93]

How probable is it? Who is more likely to do this apart from St. Louis Federal Reserve? Will it immediately trigger a bandwagon effect when it happens or it will take time for others to follow?

We will see institutional adoption of Bitcoin when the price will become stable and there will be more broad interest in it, so this is definitely not going to happen in this summer or the next summer, or even in the next 5 years. No one among the institutional investors wants to expose themselves to big risks even if the payout is big too, they all prefer to invest in something predictable.

[olliecrypto]

what benefits do you think a federal bank holding bitcoin would be ?
possible loans done with bitcoin for newbie or professional traders, and charging an interest rate?
other than that, i do not see a reason, as federal banks make endless amounts of cash by simply running financial economies with predatory loans. why would they bother with crypto when they already have everyone on their knees trying to pay back credit cards, mortgages and car loans?