Post
Topic
Board Economics
Re: Central banks and financial instutions selling gold to retail to buy crypto
by
Hanadawa
on 14/05/2025, 03:09:09 UTC
Gold is useless for banks.....
Your statement is useless too as you didn’t even back it up with anything.
Even though we love Bitcoin and believe that Bitcoin is the best medium of exchange because of its transparency and minimal intervention, I think we all agree that gold is an asset that has existed since the beginning and has been an asset for thousands of years. I think it makes no sense for banks to sell gold and buy Bitcoin. I think even many countries in the world store their foreign exchange reserves in gold like China does. But on the other hand they also buy Bitcoin as a reserve and to make a profit. Every country will announce their Bitcoin holdings like giving a wallet address. But I am sure almost all countries never announce how many tons of gold they have.