Chinese state-backed think tank highlights Bitcoin as a reserve asset against USD, Sony’s online bank launches new crypto unit. Asia Express.
The International Monetary Institution (IMI), Chinas state-backed finance think tank, has republished an article that quietly elevates Bitcoin in the reserve asset debate.
The report by former White House economist Matthew Ferranti, originally published in October by the Bitcoin Policy Institute, argues that Bitcoin can serve as a hedge for central banks in developing economies, particularly those exposed to US dollar weaponization. It was republished by the IMI on its official WeChat account on May 28 with an editorial note stating Bitcoins rise as a reserve asset deserves continued attention.
The IMIs editorial note lays out that the appeal of US dollar assets is waning due to deficits, inflation and falling real yields. As a result, gold faces new challenges and Bitcoin is emerging as a serious contender for strategic reserves.
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