G7 Central Banks plans to start buying cryptocurrency this year

[Xester]

https://www.coindesk.com/2018-year-central-banks-begin-buying-cryptocurrency/

As said in this article 2018 will be the richest year for cryptocurrency as the central bank preferably the so called G7 are pouring money into cryptocurrency.
According to them" In 2018, cryptocurrencies like bitcoin will be utilized for international trade on a moderate basis because the high returns as an investment will encourage a 'hold' strategy for G7 countries".  They also added that bitcoin and other selected cryptocurrencies will be added to the list of eligible securities and currencies.

After reading this news, I shared this immediately in this forum since it is a big news to all of crypto holders especially to bitcoin enthusiasts. If the G7 will pour their money into cryptocurrency then surely we will hit 50k$ to bitcoins value this year.

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[pompinkpomelo]

It's great news that they have this position but where exactly does the 50,000 btc value estimation come from?

[fonenumba]

Hope this news will be true and g7 will start to buy crypto and get positions on this market so we will could to see new highs and price very soon.

[Xester]

It's great news that they have this position but where exactly does the 50,000 btc value estimation come from?

I derived that estimation from a bullish person in bitcoin namely Jamie Burke, CEO at Outlier Ventures. Also Thomas Glucksmann of Gatecoin told CNBC that bitcoin will reach that far this year, as far as 50k$. With those statements and the approval of bitcoin ETF and the support of the central bank of G7 that will pour money into bitcoins; the prediction of 50k$ is feasible that we will hit this year.

[patt0]

Well not saying I don't believe in what is written on that article, because it kind of makes sense, but let's not forget that everything written there is still just speculation and no one will ever know if they will start buying bitcoin or not. I actually think that's true, because bitcoin is here to stay and it's useless to try to shut it down. A new asset was born, so it's better for them to invest in it, because if everything goes well with BTC, they have a lot to gain from it, and buying it, is a way to maintain their wealth, since they can buy a lot more than the rest of us.

[stompix]

Everybody is an analyst , everybody is a specialist, all have insider info about what the most powerful countries have in mind.

And with all that information, instead of getting rich and start a profitable business they write crappy articles and pump shady ICOs. So let's see, what  the former "banker" and not quite so banker at the South African Central bank said earlier

So in August he claimed that Central Bank will miss the train
https://www.coindesk.com/10-reasons-why-central-banks-will-miss-the-next-currency-renaissance/

In December, (btw this is 4 years old news) he was sure they are going to catch the train:
https://www.coindesk.com/2018-year-central-banks-begin-buying-cryptocurrency/

Those "experts" should really learn to do one thing. Stop posting garbage !!!

[Dluretic]

Indeed, the future of bitcoin is likely to become an international currency.
So it's perfectly normal to buy bitcoin, because bitcoin is currently at a very low price.

[Tankdestroyer]

Those "experts" should really learn to do one thing. Stop posting garbage !!!

Those so called experts in price analysis should call themselves as FOMO experts, it is really obvious that they are only trying to spread FOMO, in the hopes that bitcoin price will go up. They wouldn't stop to post garbage even if they know that what they are currently posting is a trash(they don't care about the public anyway, they only care about their profits and their so called insider information is also not true).

[Red-Apple]

if some central bank decides to invest in cryptocurrencies they will do it in bitcoin and they won't announce it to the public. people would still give their opinions about it though!
i am also not sure whether to be happy or scared of such news. on one hand if things like this happen for real they will show bitcoin's legitimacy to the newbies who fell for FUD before. on the other hand we don't want any banks involved with bitcoin ever.

[alyssa85]

If you read the article, central banks haven't announced anything.

It's just the opinion of the blockchain.info ceo that central banks will start investing in bitcoin.

I can't see it myself - bitcoin isn't really used for trade at all, and central bank reserves are there to facilitate trade between countries (they try to hold currencies in proportion to the trade their country is doing with other countries.

[hadveach]

wow, this is good information, i become more excited to hold bitcoin.

if there are some banks that will buy crypto, this is the first door open to the crypto world, so it can be accepted by the world as a legal digital currency.

[@Hakermania@]

It does not surprise me. For months the economic circles have been shouting around cryptocurrencies. They not only have a repressive interest because these gentlemen always leave a door behind the back.

[Pursuer]

If you read the article, central banks haven't announced anything.

It's just the opinion of the blockchain.info ceo that central banks will start investing in bitcoin.

I can't see it myself - bitcoin isn't really used for trade at all, and central bank reserves are there to facilitate trade between countries (they try to hold currencies in proportion to the trade their country is doing with other countries.

yeah, coindesk is also sometimes posting weird news titles.
in any case I can see banks investing in bitcoin because of the profitability of something like that but I honestly don't see them getting involved with it for trading internationally. besides it is already prohibited in some countries like China for banks to invest in bitcoin to begin with....

[bengca84135120]

These seven countries are both BTC and digital cryptocurrency legal countries!

They see the potential of digital cryptocurrencies and are beginning to realise that it is not feasible to make monetary policy for global cryptocurrency markets.

[hugeblack]

I do not know why you are reposting an article since 2017.
All the news after the G-20 talks about the acceptance of cryptocurrencies but the need for more regulation to such currencies.
Probably the scenario is to create stable coins based on blockchain "Tether"
Now I'm up after four months and the price is still around  7,000$,  50,000$ is a difficult scenario

[Catch-22]

The $50k value might be overly high.  But this is such a good news that it made me buy and hold more.  For now, I am hoping that bitcoin will recover from the current dip, the soonest, the better.

[Lieldoryn]

I do not know why you are reposting an article since 2017.
All the news after the G-20 talks about the acceptance of cryptocurrencies but the need for more regulation to such currencies.
Probably the scenario is to create stable coins based on blockchain "Tether"
Now I'm up after four months and the price is still around  7,000$,  50,000$ is a difficult scenario

To coin was stable it be strictly regulated. This coin will not be popular. For me," Tether " is the strangest coin. I use it only in cases where there is no possibility to exchange some coins for btc or eth familiar to me. Why do I need "Tether" if I can exchange for USD?

[paul gatt]

If the bank intends to buy bitcoin this year, it is likely that the bitcoin will increase against current prices. Once the bank has accepted the payment by BTC, the bitcoin will be considered as a legal currency. I decided to continue investing heavily in bitcoin.

[Kprawn]

I am just curious to know why these G7 countries are particularly interested in Bitcoin and not some fake coin like Ripple

 that are commonly known as being a Bank coin? The R3 Group of Banks are also working on some Bank coin with Mike

 Hearn, so it would be a question of time, before they switch to one of these coins.  ..... Bitcoin is still the most valuable

coin and also the most popular. 

[bitcoinzen]

India is planning to start Central Cryptocurrency as of now they are in talks with world-class blockchain developer and by this year end or next we can see Indian blockchain based cryptocurrency