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According to Blockchain CEO Peter Smith, central banks will begin to hold important digital currencies such as Bitcoin and Ether in 2018 in their reserves.

Some banks have already started


In December 2017, the Bulgarian government reportedly had over $ 3 billion in Bitcoin, mostly from dark web strikes.

Bulgarian officials stated that in an explanation they made in May, when the price of Bitcoin was 15 thousand dollars, they stated that they are now getting 213 thousand 519 Bitcoins, which is more than 3.2 billion dollars


In addition to the Bitcoin seizures, the central banks will likely become part of the crypto bank reserves, such as Bitcoin and Ether, since the digital money market grew considerably in the last few years. Bitcoin, which reached a market value of 250 billion dollars in particular, is expected to compete with gold with a market value of 8 trillion dollars according to the analysis.

Bitcoin may become one of the global reserve currencies

Also, if Bitcoin, which targets 40 trillion dollars in offshore, becomes one of the reserve currencies of the global economy with 8 trillion dollars of gold and 50 trillion dollars of money market, governments may need to supply Bitcoin and alternative crypto currencies.

However, Bitcoin and other cryptographic currencies in the market were trying to give crypto currencies issued by the Central Bank of some of the leading central banks in China, Europe and Great Britain and some of the state institutions, more than two years ago.

Central banks inadequate in crypto money development work

We know that bank-based (central) cryptographic money is being worked on by leading central banks and government agencies in China, Europe and the United Kingdom, which are more than two years old. But despite the hundreds of millions of dollars invested in research and development in these two years, central banks have not even been able to test the government-sponsored cryptographic currencies. The lack of advancement in Central Bank-backed crypto money development work is seen as a result of the way out with highly ambitious plans.

What the banks think of in the future

The whole aim of cryptographic currencies and Blockchain based networks is based on the basic concept of "decentralization". Users in Blockchain networks; (peer-to-peer / P2P) payments, transactions, and information.

It will be less important how much the central banks in the future will believe in Bitcoin and the underlying technology. If Bitcoin does not show a conversion to a global reserve currency, it will push governments to produce and retain crypto money in large quantities due to investment and security potential.