Ghana invests 1% of its reserves in BitcoinThe executive director of a large holding company in Ghana called on the central bank to invest one percent of its reserves in Bitcoin.In an interview with Joy Business, Papa-Wassa Shefi Ndoum - vice president of Groupe Nduom - said that Bitcoin has grown so much that central banks can no longer ignore its precedents as a global reserve asset.
Referring to reports that predict that the US dollar will decline relative to other reserve currencies in 2018, Ndoum said that African central banks, such as the Bank of Ghana, should consider buying a small amount of Bitcoin while it is at a relatively low level compared with the record price in December last year.
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Bitcoin has grown, in terms of price yes. Any country investing in Bitcoin would first think of the consequences of the act first. US would get offended obviously, that 1% sounds to be small but it is a lot of money, so little change in the price of bitcoin shall affect the reserves and in times of need, if the price falls, it shall affect the economy badly. Central Banks of different countries have issued various circulars on how to avoid the "biggest and the latest bubble" of this decade, Bitcoin. If one country decides to do so, others would not like such a cause since these are totally decentralized, and economies are clearly centralized. This may affect and cause a lot of hindrances in trades between country figuratively and literally.