Citibank sees Bitcoin as a potential international reserve currency

English Mar 12, 2021

A Citi Bank report brought together several statements about the potential of Bitcoin. One of the most significant observations in the report is that, thanks to the growing adhesion of companies accepting Bitcoin - its popularity has been growing substantially.

The report also states that the Bitcoin scenario is different from that of 2017, which ended in a sharp drop in asset value, when Bitcoin was traded almost exclusively as a retail asset.

The report further suggests that Bitcoin may be the currency of choice for future international trade, pointing to the global reach of cryptocurrency, borderless design and the lack of foreign currency exposure as key characteristics that can lead to this phenomenon.

But the most important factor that influences whether Bitcoin becomes the currency of choice for international trade is perception.

According to the report, Bitcoin's perception has shifted from a focus on technology to a focus on the cryptocurrency's ability to resist censorship and ultimately to a focus on scarcity. In the future, the focus may shift to Bitcoin's “globality” and value exchange networks, which, according to the report, is when Bitcoin can be considered a facilitator of global trade.


Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.