State-Supported Financial Institution in China Praises Bitcoin! What's Happening?

The International Monetary Institution (IMI), China's state-backed financial think tank, has published a remarkable analysis of Bitcoin's role in the global reserve system. In the article written by IMI, it is stated that Bitcoin is no longer just a speculation tool, but a strategic reserve asset.

IMI indicates that many central banks in various countries have turned to alternative reserve assets due to high US budget deficits, expansionary monetary policies, and the continuous decline in the real yields of US Treasury bonds. In this environment, the organization stated that new competitors have emerged against traditional reserve instruments like gold, and that Bitcoin, with its fixed supply structure and decentralized nature, has increasingly become a focal point of institutional interest.

The analysis published highlights that the central banks and sovereign wealth funds of some countries have come into contact with Bitcoin or have invested indirectly. For example, the indirect Bitcoin ownership of Norway's sovereign wealth fund is shown, and this situation is considered an indication that Bitcoin is beginning to be accepted as a long-term store of value.

It is noted that for developing countries, especially those struggling with high inflation and where the national currency is under significant pressure, Bitcoin could become a protective tool against the instability of traditional currencies. According to IMI, during this period when the global financial order is beginning to reshape, Bitcoin is evolving from its identity as a "speculative asset" to a role as a "strategic reserve asset" with the weakening of the dominance of the US dollar.

*This is not investment advice.

Follow our Telegram group, Twitter account, and Youtube channel for exclusive news, analyses, and on-chain data! Also, start live price tracking immediately by downloading our Android and IOS applications!