Those of you who have been keeping up with the crypto headlines might recall one that came out of the BIS about how cryptocurrencies are not suited to be the future financial system.
Because I love the BIS (so, so much) I decided to dig down into their report and give you a summary of what it says (and why it's wrong!).
Given that the BIS is made up of 63 of the world's central banks, it should come as no surprise that the future financial system they envision is very different from the one that cryptocurrency is implicitly promising.
The most ironic part of all is that they intend on using the exact same technology as cryptocurrency while having total control of their CBDC systems.
As scary as the BIS can be, it really is amazing to watch how its attitude towards crypto has changed over the years.
First the BIS laughed at it, and now it looks like they're fighting it, just like that famous quote. Does this mean that cryptocurrency will in in the end?
Well, you'll have to stay tuned until the end to find out!
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⛓️ 🔗 Useful Links 🔗 ⛓️
► All Central Bankers Meet at BIS: https://youtu.be/-KNHTwc5SXg
► BIS 2018 Cryptocurrency Media Briefing: https://youtu.be/NjBeZdattw8
► BIS June 2022 Cryptocurrency Media Briefing: https://youtu.be/obhognXTW34
► BIS Future Monetary System Description https://www.bis.org/press/p220621.htm
► BIS Future Monetary System Full Text https://www.bis.org/publ/arpdf/ar2022…
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
