According to the 27th Annual Reserve Management Seminar Survey conducted by Swiss-based UBS investment bank, 11% of central banks <a href="https://twitter.com/ex_markets/status/1413507986002042880" target="_blank" rel="nofollow noopener">stated</a> they would invest in Bitcoin as a gold alternative.

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<h2>Bitcoin Investing As A Gold Alternative</h2>
According to Switzerland's largest bank, this survey "is one of the most authoritative portrayals of government reserve management operations accessible."

The poll, which included 30 major central banks, found that, while over 85% do not anticipate crypto-assets to replace gold in their currency reserves, approximately 28% of central banks consider Bitcoin and other cryptocurrencies as an advantage as an uncorrelated asset.

The second most common response for the central bank's rationale for investing in cryptocurrencies was "uncorrelated asset." The most popular were learning about the crypto investing process as well as investment management.

“83% of participants feel that the process of investing in and managing this new asset class will be beneficial to their institution.”

While the third was “signaling technological development of the institution,” another popular one was “gold alternative (independence from the Western financial system).”
<h2>What Effects Does CBDC Have on Banks?</h2>
Cryptocurrencies are unlikely to have a substantial influence on reserve operations, according to 57% of participants.

When asked if they believe <a href="https://www.cryptoknowmics.com/news/goldman-sachs-reconsidering-old-stances-cryptocurrencies-may-be-an-asset-class/">cryptos would replace gold</a> as a safe haven asset in the future, no one responded yes, while the majority (84%) said no, with 16% indicating they don't know.

Central banks aren't interested in Bitcoin or other cryptocurrencies, since they're working on their own Central Bank Digital Currencies (CBDC).

According to the poll, central banks are becoming more enthusiastic about the prospects for digital fiat, with more than 80% expecting central banks to build CBDCs that are directly available to customers over the next five years.

40% of central banks are already experimenting with CBDC-based initiatives. 

China is presently <a href="https://www.cryptoknowmics.com/news/hong-kong-in-talks-with-china-to-stretch-cross-border-testing-of-digital-yuan/">leading </a>the CBDC competition. According to a UBS study, the Chinese yuan may account for 15% of global reserves over the next decade. According to the study, it may reach up to 15%.

11% of Central Banks Wants to Invest in Bitcoin as a “Gold Alternative”

According to a seminar poll conducted by the Swiss financial company UBS, 11% of central banks stated they would invest in Bitcoin as a gold alternative.

Kavya Barua is a voracious learner who is fascinated by crypto and Fintech advancements. Graduated from Janki Devi Memorial College's B.A (Hons) English program at the University of Delhi. She aspires to be a successful professional, having a keen interest in learning and achieving results.

11% of Central Banks Wants to Invest in Bitcoin as a “Gold Alternative”

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