Bitcoin Booming Adoption: Central Banks To Adopt BTC As Reserve Asset

It’s been just revealed that central banks from all over the world will adopt Bitcoin as a reserve asset. This means a boom for the mass adoption of the digital assets all over the world.

An important Bitcoin (BTC) bull said that central banks around the world would eventually adopt the king crypto as a reserve asset.

In a recent interview with Stansberry Research, veteran hedge fund manager Mark Yusko of Morgan Creek Capital predicted the fact that policymakers will eventually return to devaluing the US dollar to pay off the government’s massive debt.

“So now the only way out is to print money… It’s the only way out for an empire that’s overly indebted. Even if they tried to tax all the wealth in the United States, they couldn’t pay back the debt…”

He continued and said this:

“Everyone talks about the ‘strong’ dollar. It’s not strong. DXY [US dollar index] is not the dollar, DXY is the relative value of the dollar versus the Yen and the Euro. The dollar is toilet paper, or crepe paper, and the yen is super toilet paper, and the euro is just toilet paper.”

He also stated that “The yen has been absolutely massacred, down 40% this year, so we look good by comparison, but versus the renminbi, we’re dead flat over the last two years.”

As the online publication the Daily Hodl notes, Yusko says that central banks, institutions that once only held gold and USD as reserve assets, eventually will accumulate yen and euros.

He made sure to say that central banks have already begun holding the yuan as a reserve asset and will eventually add Bitcoin. He also said that BTC would replace gold.

Stay tuned for more news from the crypto space and make sure to keep an eye on the market as well.