Last week, spokesmen for two of the world’s largest and most important central banks, Robert Kaplan of the Federal Reserve and Lo Bi of the People’s Bank of China (PBOC), shared information about their views on Bitcoin and how which central banks are currently thinking about the asset.
Kaplan, the current chairman of the Federal Reserve Bank of Dallas and a former member of the Federal Open Market Committee, said this during the Bitcoin conference of the Mays business school at Texas A&M University:
“Right now, it is clear that it is a store of value … Obviously, it moves a lot in value, which could prevent it from spreading too much as a means of exchange and wide adoption, but that can change. ”
Kaplan’s comments are quite significant, because the recognition of bitcoin as a value deposit further legitimizes the asset, which, at the beginning of the year, exceeded 1 trillion dollars in market capitalization.
In addition, Bo, a deputy governor of the PBOC, said this at the Boao Forum for Asia on bitcoin and cryptocurrency assets.
“We believe that Bitcoin and stablecoins are encrypted assets,” Li said. “Encrypted assets are an investment option, not the currency itself. It is an alternative investment, not the currency itself. Therefore, we believe that cryptographic assets should play a major role in the future, either as an investment tool or as an alternative investment. ”
The comments can be seen as strong statements of support from officials working at two of the largest central banks of the two dominant global superpowers. The dynamic becomes even more interesting as discussions about the theoretical competition of games between China and the United States have grown in recent weeks, with comments from technologist Peter Theil and American minority leader Kevin McCarthy, for example, ignited the flame.
“[Bitcoin] it is something that those who regulate, those who are in government who do politics, are beginning to better understand what it means for the future, because other countries are advancing, especially China, ”McCarthy said recently. “I do not want America to be left behind. I want the next century to be ours. ”
It is obvious to those with an understanding of Bitcoin that there is great geopolitical significance in terms of the adoption of nation states, and the comments over the weekend offer another interesting new development in accepting bitcoin as a monetary asset in the old financial system.