Last week, spokesmen for two of the world’s largest and most important central banks, Robert Kaplan of the Federal Reserve and Lo Bi of the People’s Bank of China (PBOC), provided insight into their views on Bitcoin and how central banks are currently thinking about it. . the asset.
Kaplan, the current president of the Federal Reserve Bank of Dallas and former member of the Federal Open Market Committee, spoke at the Bitcoin A & M University’s Mays Business School’s Bitcoin conference:
“Right now, it’s clear that it’s a value store … it’s obviously moving a lot in value, which may prevent it from spreading too far as a medium of exchange and wide adoption, but it could change.”
Kaplan’s remarks are very important, as the recognition of bitcoin as a value preservation further validates the asset that crossed $ 1 trillion in market capitalization earlier in the year.
In addition, Bo, a deputy governor of the PBOC, said this at the Boao Forum for Asia on bitcoin and cryptocurrency assets.
“We believe that Bitcoin and stable currencies are encrypted assets,” Li said. ‘Encrypted assets are an investment option, not a currency. It is an alternative investment, not a currency. Therefore, we believe that crypto-assets should play an important role in the future, either as an investment instrument or as an alternative investment. ‘
The remarks can be seen as strong statements of support from officials working at two of the largest central banks of the two dominant world powers. The dynamics become even more interesting as talks on match theory competition between China and the United States have intensified in recent weeks, for example by technologist Peter Theil and US minority leader Kevin McCarthy, who ignited the flame.
‘[Bitcoin] ‘is something that those who regulate, those who are in government who make policy, can begin to better understand what it means for the future because other countries are moving forward, especially China,’ McCarthy said recently. “I do not want America to fall behind. I want the next century to be ours. ‘
It is clear to those with an understanding of Bitcoin that there is a great deal of geopolitical significance with regard to the acceptance of nation states, and the comments over the weekend provide another interesting development in the acceptance of bitcoin as a monetary asset. in the heritage financial system.