Connect with us


UBS Survey – Regulation Bitcoin News



A UBS survey shows that central bankers see advantages in investing in cryptocurrencies like Bitcoin. 28% see advantages in the fact that cryptocurrency is an uncorrelated asset and “11% would consider it an alternative to gold”.

Central bankers see advantages in investing in cryptocurrencies like Bitcoin

UBS’s 27th Annual Reserve Management Seminar Survey examines the prospects of cryptocurrencies as an investment for central banks. This survey, conducted between April and June, interviewed central bankers from nearly 30 central banks in every region around the world, UBS said. According to the largest Swiss bank, this survey is “one of the most informative representations of official reserve management activities that exist”.

Central bankers were asked what the motivation would be for central banks to invest in cryptocurrencies like Bitcoin. The most popular answer was “learning / building knowledge about the crypto investing process and investment management”. UBS stated, “83% of respondents believe the learning process to invest and manage this new asset class would be valuable to their institution.”

The second most popular answer was “uncorrelated asset”. The third was “signaling the technical progress of the institution”. Another common answer was “Gold alternative (independence from the Western financial system).” UBS wrote:

28% of participants see the benefits of cryptocurrencies as an uncorrelated asset and another 11% would see them as an alternative to gold.

11% of central bankers consider “cryptocurrencies like Bitcoin” to be gold alternatives: UBS survey27th UBS survey on annual reserve management seminar. Source: UBS

Central bankers were also specifically asked if they see cryptocurrencies displacing gold as a safe haven in the future. Of the respondents, 84% said no, 0% said yes and 16% said they didn’t know. “A majority of 84% of the participants do not believe that cryptocurrencies will displace gold as a safe haven,” stated UBS.

The survey also asked central bankers about central bank digital currencies (CBDCs). 46% of respondents said that CBDCs and cryptocurrencies will coexist, noting that bitcoin and other cryptocurrencies are not being displaced by central bank digital currencies. 33% believe that CBDCs will displace cryptocurrencies.

What do you think of this survey? Let us know in the comment section below.

Tags in this story

Gold alternative, CBDC, central bank digital currencies, central bank digital currency, central bankers, central banks, gold alternative, reserve manager, safe haven, survey, UBS, ubs survey

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation to make an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


A Tiny Cryptocurrency Called Omicron Is Suddenly Rocketing—Even As The New Covid-19 Variant Tanks The Bitcoin Price And Crypto Markets



A new, fast-spreading variant of Covid-19 called Omicron has brought bitcoin, cryptocurrency and traditional markets into a meltdown this week, with investors warned to “be on their guard”.

Subscribe to Forbes’ CryptoAsset & Blockchain Advisor now and discover hot new NFT and crypto blockbusters ready for 1,000% profit.

Bitcoin price lost more than 5% in just a few hours this week, plunging its decline from an all-time high of around $ 69,000 per bitcoin to 20% and bitcoin into a technical bear market that has wiped billions of dollars out of its combined cryptocurrency capitalization .

However, the price of a tiny cryptocurrency, which happens to be called Omicron, suddenly skyrockets and has increased by around 500% in the days since the World Health Organization named the new Covid-19 variant – in memory of the sudden rise and fall Case of an octopus game inspired cryptocurrency scam last month.

Register now for the free CryptoCodex—A daily newsletter for those interested in crypto. We help you understand the world of Bitcoin and Crypto, every day of the week

MORE FROM FORBESThe new German Chancellor Olaf Scholz issued a serious Bitcoin and crypto warning ahead of the recent price hikefrom Billy Bambrough

The price of omicron’s omic cryptocurrency has increased by around 500% in the past few days, although it has not … [+] Connections to the new Covid-19 variant and rose as the Bitcoin price fell sharply.

dpa / picture alliance via Getty Images

The bubbling cryptocurrency market – which can mean that even larger and more established coins regularly see sudden double-digit percentage gains and losses – often lets tiny cryptocurrencies soar in value only to collapse a short time later.

Last month, an amateur crypto project inspired by the viral Squid Game TV show but not affiliated with it or Netflix NFLX saw its squid cryptocurrency adding many thousands of percent before crashing back to nearly zero .

This year, a spate of meme-based cryptocurrencies led by Dogecoin and its biggest rival Shiba Inu has propelled the cryptocurrency price charts up as traders bet that the hype of Tesla billionaire Elon Musk will translate into longer-term value .

The price of omicron’s omic coin has risen from around $ 50 to nearly $ 400 in the past few days, as measured by the CoinGecko cryptocurrency price data tracker. Despite its surge, neither CoinGecko nor the bitcoin and crypto exchange have enough data on omicron to generate a market capitalization.

Omicron, described as “a decentralized, treasury-supported currency protocol” based on the Ethereum scaling technology Arbitrum and launched just a few weeks ago, can only be traded on the controversial decentralized exchange SushiSwap. Such exchanges, whose decentralized nature means that no central authority is responsible, are known to be often affected by hacks, exploits and so-called rug pulls, in which user funds are stolen.

KryptoCodex—A free, daily newsletter for those interested in crypto

MORE FROM FORBESWatch this key level as the price of Bitcoin, Ethereum, BNB, Cardano, Solana and XRP continues to risefrom Billy Bambrough

The price of Omicron began to rise after the WHO named the new Covid-19 variant, and even rose as that … [+] The price of Bitcoin and other cryptocurrencies has fallen sharply.

Meanwhile, Bitcoin and crypto market watchers are broadly optimistic, despite the fact that the new Covid-19 variant has driven Bitcoin price into a meltdown this week.

“News of a new variant of Covid from South Africa resulted in a widespread sell-off across all asset classes,” said Martha Reyes, research director at Digital Asset Prime Brokerage and Exchange Bequant, in email comments. “If there are lockdowns, which is not our base scenario, this will lead to more helicopter money, which ultimately benefits digital assets.”

This week’s crypto sell-off, with Bitcoin price falling in line with traditional markets, surprised some in the crypto industry who are used to crypto prices moving independently of stocks and traditional assets.

“The cryptocurrency market is largely unrelated to traditional markets,” Tally Greenberg, director of business development at blockchain company Allnodes, said in email comments.

“However, there are coming times when even cryptocurrency will follow world events. The news of a new variant of Covid-19 has shaken the world with further uncertainty about our global path to recovery, leading to a sharp decline in cryptocurrencies, both large and small falling stocks. ” and ties across all nations. “

Continue Reading


Best cryptocurrency Telegram channels to join



As interest in cryptocurrency and crypto trading continues to grow, people are starting to tap into several profitable niches in the emerging industry. Among other things, crypto education seems to be taking the lead as more and more people look for knowledge in this sector.

There are currently more than 300 million users of cryptocurrencies worldwide. with an average annual growth rate of 56.4% from 2019 to 2025. On the one hand, this means that more people are likely to get on board the cryptocurrency train. Likewise, the number of people learning about cryptocurrencies will increase proportionally.

However, learning about cryptocurrencies, or possibly joining a community of like-minded individuals who can help alleviate the burden of a lack of understanding of cryptocurrencies, is almost inevitable.

We are going to list some of the best cryptocurrency Telegram channels to join as either a beginner or an expert in the crypto space.

First, these cryptocurrency telegram channels are created for various purposes including the following:

  • Market information (news, reviews and announcements before buying).

  • Market trends (price forecast and trading signals)

  • Learning objective (how to trade cryptocurrency and invest in existing or new tokens)

  • Community Discussion (a group created specifically for a number of people who have invested in a cryptocurrency project).

Why Telegram?

There are many reasons Telegram still remains one of the best destinations for learning about cryptocurrencies and finding guides on crypto trading or investing.

Aside from being one of the best for getting messages across to a large audience, it comes with unique features (such as pinned messages and inbound links) that enable effective communication.

In comparison, WhatsApp (like other messenger apps) have a maximum number of participants per group of around 250 people. On the flip side, Telegram can accommodate up to 200,000 participants per group, making people accessible to a wider network of people with common goals.

The story goes on

Best cryptocurrency telegram channels to join in


Bityard is a decentralized exchange for cryptocurrency. However, it hosts a free Telegram channel where it shares industry news with its user network. While the Telegram channel is a standalone additional service for the brand, interested individuals can subscribe to unlimited access to cryptocurrency information while also using the platform to connect with other crypto traders / enthusiasts.

Minter network

Possibly the most populous of all cryptocurrency telegram channels. DeFi Million is a great place to get trading signals as it has 300,000+ members and many traders join for free information on DeFi tokens.

The group of people behind the channel is one of the earliest in the game of “pump and dump,” which is another way of describing a situation where a crypto asset is amplified by a lot of people buying together.

However, the community often makes a collective purchase of certain tokens, causing the price to skyrocket, benefiting the entire community. This group has a track record of influencing new tokens while making insane profits.


This particular Telegram channel is specially designed for business and digital currencies. In addition, the group focuses on training its community members regardless of their level of expertise.

The channel is also very informative as it publishes a newsletter with industry news every morning. Community members also enjoy unrestricted access to analytical articles. Best of all, members can post comments on crypto-related topics in various sub-channels devoted to trading, mining, DeFi, and general chat.

Coin rivet

The Coin Rivet Telegram Channel is a vibrant zone for daily crypto news, price analysis, and guides on how to navigate the crypto world with ease. The channel may not be as populated as others, but it is a perfect destination for timely crypto updates.

ICO Invest

This channel is operated by an investment manager – Alexander Muhanchikov – who shares calendars / tips on potential ICOs as well as detailed reviews of various ICOs.


The Altchica Telegram channel will mainly target active crypto traders as it is popular for exchanging cryptocurrency signals. With more than 7,200 members still counting, Altchica has one of the largest communities of for-profit traders and investors; This group of people uses the signals shared on the channel in their respective trading activities. The channel also has a VIP sub-channel which is used to exchange information necessary to conclude a trade, even for those with entry level experience.

Continue Reading


1 Cryptocurrency I’d Buy Right Now — and It’s Not Shiba Inu



I have to admit that I was overwhelmed by something Shiba Inu (CRYPTO: SHIB) got done in a short time. A profit of 54,000,000% in a year tends to impress me. Shiba Inu came out of nowhere and became one of the most talked about and popular cryptocurrencies in the world.

But I don’t think Shiba Inu is the best cryptocurrency to buy right now. The digital token that tops my list is even more popular (based on market cap at least). And I think it could be a big winner in the next few years. Here are four reasons why Solana (CRYPTO: SOL) is the only cryptocurrency I would buy right now.

Image source: Getty Images.

1. The fastest growing crypto ecosystem

The real benefit is, in my opinion, an important aspect when looking at cryptocurrencies. That’s a main reason I like Solana.

Around 500 projects are currently being built on Solana. This includes decentralized financial applications (DeFi), games, non-fungible tokens (NFTs) and Web3 apps. One project that I find particularly fascinating is Star Atlas. It’s a massive multiplayer metaverse. Star Atlas CEO Michael Wagner said: “The overall vision for Star Atlas is not possible on any other blockchain.”

Granted, ether (CRYPTO: ETH) has built even more projects on it. But Solana is the fastest growing crypto ecosystem in the world. I wouldn’t say it’s an “Ethereum killer” because I don’t think Ethereum is going away. However, in my opinion, Solana will continue to gain ground and remain Ethereum’s top competitor.

2. The fastest blockchain in the world

The number one reason Solana attracts so many developers is its transaction speed. It is by far the fastest blockchain in the world.

That is actually putting it mildly. Ethereum processes between 15 and 45 transactions per second. Another emerging cryptocurrency, Cardano (CRYPTO: NO), processes around 250 transactions per second. Solana can process approximately 50,000 transactions per second.

Ethereum’s Eth2 upgrade could change the dynamics. It could scale up to 100,000 transactions per second. However, the full upgrade won’t happen until next year.

Does that change my optimism about Solana? Nope. It could also get faster. Solana co-founder Anatoly Yakovenko has publicly stated that the Solana blockchain is “about four times slower than it should be”.

3. Low cost

Another big advantage for Solana is the low cost. The transaction cost is less than $ 0.01. Better still, the scalability of the blockchain will allow these costs to stay low.

This competitive advantage should not be underestimated. Transaction fees for Ethereum have skyrocketed. As a result, some are leaving the popular blockchain.

Hedge fund CEO Su Zhu is one of the most famous cryptocurrency investors in the world. The billionaire recently tweeted that he had “given up” Ethereum after previously being a key supporter. He blamed the high gasoline charges for this. Zhu also tweeted that “the millions of new users” shouldn’t “be ashamed of going to other ecosystems,” nor should “developers be ashamed to build on them.”

Solana is and likely will continue to be a major beneficiary as users and developers move from costly blockchains to lower-cost alternatives.

4. More space to run

Sure, Solana is near all time highs after rising more than 9,300% in the past 12 months. However, I think that cryptocurrency has a lot more leeway.

Solana’s market cap is currently nearly $ 65 billion. This makes Solana the fifth largest cryptocurrency on the market. But its market cap is still less than one-sixteenth the size of Bitcoin‘S (CRYPTO: BTC) and a little less than an eighth the size of Ethereum.

I don’t expect Solana to deliver as overwhelming returns in the next few years as Shiba Inu has in the past 12 months. But neither am I looking for Shiba Inu for repetition.

What I expect is that Solana’s incredibly fast processing speeds and extremely low cost will continue to attract developers. And I think it will remain the fastest growing crypto ecosystem. This should result in Solana generating impressive returns over the long term.

This article represents the opinion of the author who may disagree with the “official” referral position of a premium advisory service from the Motley Fool. We are colorful! Questioning an investment thesis – even one of our own – helps us all reflect critically about investing and make decisions that will help us get smarter, happier, and richer.

Continue Reading