I used to assume the adoption of bitcoin by central banks for his or her reserves would occur quickly, given the pressing want in some pockets of the worldwide financial system – now I notice that getting regulators comfy with the concept, particularly after the excessive degree of confusion of what the FTX collapse is definitely about (i.e., fraud, not crypto), may take a while. However it’s changing into more and more clear to me that it’s going to occur, as a result of it must occur. The doubt and mistrust sown by latest crypto drama will recede, and the determined must shore up financial resilience – mixed with a rising understanding of the relative simplicity of an asset that may be transformed into {dollars} or some other forex at any time – will incentivize better acceptance and experimentation.
