BTC in central bank reserves? The former speaker of the House sees this realistically
2 min readย
Newt Gingrich, who served as the 50th Speaker of the US House of Representatives from 1995 to 1999 and ran for US President in 2012, became a “Bitcoiner” and said that in the future, BTC would be part of the reserves of every major central bank.
Newt Gingrich confirmed its interest in supporting the adoption of BTC by joining BTC Intercontinental BTC Advisory Corporation (IBAC), an association based in Israel that aims to help central banks and investment funds with all the needs associated with their investment in digital assets.
Countries should hold #BTC as a hedge against inflation.
– Newt Gingrich
former US House Speaker– BTC Archive ๐๐๐ (@BTC_Archive) October 21, 2021
According to IBAC, the market for “servicing government investments in digital assets” has a potential value of more than $ 50 billion because central banks hold worldwide 30 trillion dollars in own report (AUM) and others 8 trillion in sovereign wealth funds. They derived $ 50 billion from the assumption that they would invest about 1.5% of their assets in cryptocurrencies.
T Newt Gingrich pivots it #BTC
Ump Trump ally has joined firm that wants central banks to become HODLers
“This is an opportunity for countries to hold part of their reserve in BTC as a hedge against inflation and against central banks” ~ Classichttps://t.co/7RiilVoPCI
– PiQ (@PriapusIQ) October 21, 2021
Gingrich believes that the time when central banks and government institutions begin to take the issue of potential investment in BTC really seriously is fast approaching. In his opinion, the IBAC will be able to help them in this regard.
A former spokesman for the US House of Representatives noted that El Salvador currently has a great advantage over other countries by making BTC legal tender.ย
This week, a respected Czech economist also speculated about the possibility that BTC could become part of central bank reserves Lukas Kovanda from Trinity Bank when it responded to reports that the Fed perceived BTC as electronic gold.
The Fed now says that #BTC is “digital gold”. This sounds like preparing to buy in reserves. After all, it has over 8100 tons of physical gold in them, most of all the central banks in the world. ๐ pic.twitter.com/8Tobi05B5u
– Lukรกลก Kovanda (@LukasKovanda) October 19, 2021
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