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> Some of this capital is going into gold. China's gold reserves have grown for six straight months since December, the first time the country increased its hol
by smaili 7y ago
> Some of this capital is going into gold. China's gold reserves have grown for six straight months since December, the first time the country increased its holdings of the precious metal in more than two years. Russia has made similar moves, slashing its dollar-denominated assets while purchasing gold as essentially a borderless currency.
I know it's crazy but I have to ask - with countries seeking more neutral currencies, could it be fathomable that adoption of digital currencies would grow as well?
- thinkingkong 7y agoDigital currencies seem to have separate barriers. There also arent any countries providing bonds in crypto so the mechanisms employed by countries to manipulate currencies wont take effect.
- Topgamer7 7y agoGovernments wouldn't do it themselves. The average person still sees crypto as risky and volatile (if they are familiar with crypto at all)
- stcredzero 7y agohttps://en.wikipedia.org/wiki/Sovereign_Currency_Act_of_2018 https://en.wikipedia.org/wiki/Sovereign_Currency_Act_of_2018
- allemagne 7y agoThe intention is for China to reliably store capital, but digital currencies have not only been extremely volatile but also have hackable private keys.
- melan13 7y agoSwiss Franc is the primary alternative. I don't see digital currencies going farther away than being used in the dark market/crypto-trading.
- dageshi 7y agoIt is, but it's too small for china.