China-Backed Financial Institution Praises BTC: What Is Happening?

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The International Monetary Association (IMI), a financial consulting organization backed by the Chinese government, has published a notable analysis on the role of Bitcoin in the global reserve system. IMI's article states that Bitcoin is no longer just a speculative tool but is starting to be positioned as a strategic reserve asset. IMI stated that due to the high budget deficit of the United States, the expansionary monetary policy, and the continuously declining real yields on U.S. Treasury bonds, many central banks of countries are shifting towards alternative reserve assets. The organization noted that in this environment, new competitors have emerged against traditional reserve instruments such as gold and Bitcoin, which are increasingly attracting the attention of organizations due to their fixed supply structure and decentralized nature. The published analysis notes that central banks and sovereign wealth funds of some countries have been exposed to Bitcoin or have made indirect investments in it. For example, the indirect ownership of Bitcoin by the Norwegian sovereign wealth fund is cited, which is seen as a sign that Bitcoin is beginning to be accepted as a long-term store of value. It is believed that Bitcoin can serve as a hedge against the instability of traditional currencies, especially for developing countries struggling with high inflation and the pressures on their national currencies. According to IMI, during this period when the global financial order begins to reshape, Bitcoin has evolved from an identity of "speculative asset" to a role of "strategic reserve asset" with the weakening of the dominance of the US dollar.

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