The beginning of new trend : Ghana may invest 1% of its reserves in bitcoin

[beerlover]

After attracting from common people to billionaires, now bitcoin may target governments to provide them one extra options to diversify their reserves. Along with gold and USD, countries may start considering bitcoins as one of prominent reserve asset.

Ghana may set this trend to begin : https://www.ccn.com/ghanas-central-bank-should-invest-1-of-its-reserves-in-bitcoin-groupe-nduom-executive

If bitcoin will be one of the reserve assets then achieving one billion (not a typo) dollars per one bitcoin is no more debatable. Yes, believe me, that is definitely going to happen but the question is within this decade or in next decade.

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[fabiorem]

This is very bullish. Governments around the world will buy bitcoin to pay their debts to international banks.

[gentlemand]

It's the opinion of one executive at one bank. Not exactly all in from the government's end.

I wonder if and when this will happen though. It'll be more likely to be a smaller and more agile country that looks into it. However global finance is dominated by back room moves so a small country publicly doing this might find themselves being punished with measures from other angles.

[rickadone]

Ghana may set this trend to begin

Who knows, countries would have already started using bitcoins as their reserve assets (as the financial advisers of many countries are known for foreseeing and smart thinking). I assume if bitcoins was less volatile so far then probably countries might have considered to keep their reserves to grow faster.

If bitcoin will be one of the reserve assets then achieving one billion (not a typo) dollars per one bitcoin is no more debatable. Yes, believe me, that is definitely going to happen but the question is within this decade or in next decade.

I agree and I know many people may argue it as a too early call. By this time last year we were trading bitcoins around $1000 and now it is solid around $15k. Remarkable and obviously unbelievable. Hence, I too agree that one billion dollars also will be possible before 2030.

[omonuyak]

After attracting from common people to billionaires, now bitcoin may target governments to provide them one extra options to diversify their reserves. Along with gold and USD, countries may start considering bitcoins as one of prominent reserve asset.

Ghana may set this trend to begin : https://www.ccn.com/ghanas-central-bank-should-invest-1-of-its-reserves-in-bitcoin-groupe-nduom-executive

If bitcoin will be one of the reserve assets then achieving one billion (not a typo) dollars per one bitcoin is no more debatable. Yes, believe me, that is definitely going to happen but the question is within this decade or in next decade.

This is another great achievement if this works out to be truth as I know others Africa countries like Nigeria and Chad may likely used bitcoin in future in other to break the backbone of International bank on they economy. International bank are going to hate this and don't think they are going to fold they hand without fighting.

[thejaytiesto]

If every country invested %1 of their reserves of bitcoin... im not sure what the price would be, but I suspect it would be high as fuck.

Anyone has the data? it would be an interesting thing to calculate. Just with the US and Russia... that's a ton of money. Not counting in goldbugs all over the world putting %1 of their portfolio on BTC which would be the sensible thing to do.. the prices get really high.

[richardsNY]

If every country invested %1 of their reserves of bitcoin... im not sure what the price would be, but I suspect it would be high as fuck.

If that's going to happen in a further developed stage, it probably will result in the majority of the people to not even be willing to liquidate their holdings anymore. Seriously, if the current market has taught us one important thing, then it's the fact that selling Bitcoin has been an utter bad move. Sure, traders will always buy and sell regardless of the price, but those who know how to play the game, will always end up increasing their coin count. At some point we might even experience a time where people don't want to accept fiat for their coins anymore -- Bitcoin disconnecting itself from fiat, now that's something nice to focus on.

[bryant.coleman]

Another false flag here. The statement was not made by any of the government officials. On the other hand, it was made by the head of a small private bank (GN Bank) in Ghana. I don't even know why we are giving such importance to his statement. Even inside Ghana, not many people have heard about Papa-Wassa Chiefy Nduom.

[cellard]

If every country invested %1 of their reserves of bitcoin... im not sure what the price would be, but I suspect it would be high as fuck.

If that's going to happen in a further developed stage, it probably will result in the majority of the people to not even be willing to liquidate their holdings anymore. Seriously, if the current market has taught us one important thing, then it's the fact that selling Bitcoin has been an utter bad move. Sure, traders will always buy and sell regardless of the price, but those who know how to play the game, will always end up increasing their coin count. At some point we might even experience a time where people don't want to accept fiat for their coins anymore -- Bitcoin disconnecting itself from fiat, now that's something nice to focus on.

It depends. Will you be able to buy real state with bitcoin? if yes, then I guess people will have an higher incentive to hold. If you want to diversify your Bitcoin position into some real state, and by then it's still extremely difficult to find a good deal paid in Bitcoin and everything legally, then there will be an incentive to sell some of that Bitcoin.

We are going to find out in the next 2 years im afraid. By 2020 regulations should be more clear in how governments deal with bitcoin and acquisition of real state. Until then, the only sane thing to do is hold 100%.

[LeGaulois]

I find this completely ridiculous to see a government deciding to invest in Bitcoin because: they are gambling with the money of the population, if they really want to invest in cryptos then the president should use his own wallet and invest himself, not with the money of the folks.
And a country like Ghana has surely better priority like a stable electricity, clean water and so on..

[flynn]

That info is legit !

I read it in a mail I just received from a Nigerian Prince !