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Reading: Central Banks Are Moving Away from the US Dollar! There is Intense Interest in Gold and Bitcoin!
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EdaFace Newsfeed > Latest News > Bitcoin and BTC > Central Banks Are Moving Away from the US Dollar! There is Intense Interest in Gold and Bitcoin!
Bitcoin and BTC

Central Banks Are Moving Away from the US Dollar! There is Intense Interest in Gold and Bitcoin!

vitalclick
Last updated: October 25, 2024 4:56 pm
4 months ago
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matrixportIn its weekly report published on October 25, Bitcoin $67,537 He pointed out that the recent intense demand for gold and gold is supported by two major macro trends. These trends stand out as the efforts of central banks around the world to move away from dependence on the US dollar and increasing government debt. These factors are expected to accelerate the growth of gold and Bitcoin in the long run.

Strategic Transformation of Central BanksBitcoin’s Increasing Role in the Financial Ecosystem

Strategic Transformation of Central Banks

According to Matrixport report goldThe year 2024, when Bitcoin gained 31 percent in value on an annual basis and Bitcoin gained 59 percent in value, showed that both assets are strong investment tools. This performance outpaced traditional investment vehicles such as bond ETFs and the S&P 500, which returned 22 percent. Individual demand for gold also increased. Costco, for example, sells approximately $200 million worth of gold each month. In addition, central banks, especially in emerging markets, continue to increase gold reserves in order to reduce dependence on the US dollar. Countries such as China are experiencing increased geopolitical risks and US dollar In the current environment where addiction creates problems, people turn to gold.

Matrixport, “Central Banks Are Buying Gold, Is Bitcoin Next?” And “Bitcoin In their report titled “Digital is Better than Gold”, they emphasized the importance of gold and Bitcoin in terms of portfolio diversification. In this regard, it was recommended that investors invest in these assets in order to ensure resilience against global economic conditions.

Bitcoin’s Increasing Role in the Financial Ecosystem

Bitcoin has gained importance as a store of value as well as a speculative asset. Increased institutional interest, e.g. spot Bitcoin ETFThe approval of ‘s and major investments from companies like MicroStrategy have contributed to the top cryptocurrency becoming even more important in the financial ecosystem. Additionally, central banks MicroStrategy Investing in Bitcoin-focused companies such as indirectly shows that they accept the increasing importance of Bitcoin.

Concerns about global economic instability, rapidly rising government debt levels and potential inflation Risks are among the other factors that increase the demand for both gold and Bitcoin. Considering that states may have to print more money to pay off their increasing debts, these two assets provide protection against inflation. According to Matrixport, investors who added Bitcoin and gold to their portfolio this year have achieved high returns and are expected to benefit from long-term trends.

matrixport, gold indexed tokensIt also draws attention to the increasing popularity of . These tokens stand out as on-chain alternatives to traditional gold investments and contribute to further increasing demand for gold and Bitcoin in times of economic uncertainty.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

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