Central banks should buy bitcoin as a hedge against sanctions by other countries, Harvard Ph.D. candidate says

A research paper published at Harvard University is advocating that central banks should buy bitcoin BTCUSD, +0.34% as a hedge against sanctions by other countries.

Ferranti points out that central banks in countries across the globe should look into holding bitcoin as a hedge against possible financial sanctions. He gives the example of the unprecedented financial sanctions levied against Russia by the U.S. and many western nations following its invasion of Ukraine — billions in Russian assets were frozen after the Ukraine war began.

In the paper, Ferranti says El Salvador is a model for central banks owning bitcoin. The country, headed by bitcoin bull Nayib Bukele, has purchased millions of dollars worth of the crypto and has even made bitcoin an official national currency.Since the inception of popular cryptos like bitcoin and ether ETHUSD, +2.20%, part of its appeal has been the lack of involvement from central banks, in favor of the decentralized nature of the digital asset.

Anything from Harvard should not be trusted.

SteveGelsi 😅😅😅😂😂😂

CDO coins

Harvard = 🤣

Lol

They wrote this article to pump the asset. Central banks use gold for this very purpose and it’s working just fine. If they want to put gold on the blockchain then use the gold bar serial numbers and transfer accordingly, but leave crypto out of it.

Sounds like they need to go back to school

Diversifying a small portion of your portfolio into $BTC is a no brainer. $BTC is inevitable.

So what is the moral calculus here? Are not sanctions generally levied for human rights abuses? And Harvard is advising potential abusers on how to avoid suffering for their crimes? Interesting....

The people telling others to buy crypto should be held to account.

And store these bitcoins at ftx, right?

They wrote that paper to pump their asset class. Central banks stick to gold! It works just fine already, has reasonably limited supply, and they use it as one of the secondary reserves. If they want to put it on the blockchain then put a serial id of the bar on the chain.

'authored by Ph.D. candidate Matthew Ferranti' So this is basically a lab published paper written by a grad student. Harvard reserves places for legacies, a policy originally adopted to keep Jews out. We should consider it a crappy school with little credibility.

Don’t get sucked in.

Hahaha... deep breath Hahaha...

this “the emperor has no clothes “ still going uh, and now Harvard got stuck with some “bitcoin” they bought but they don’t wanna lose the money that they “invested” just because u keep talking, won’t make it true

And losing 60% of their purchasing power.

That worked out so well for Ukraine…

Ponzi scheme…

Bitcoin is a joke/scam... 👍

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