A study by UBS found that central banks see many benefits when investing in cryptocurrencies.

According to the same study, 28% of central banks believe that cryptocurrencies are not linked to anything else.

While 11% of these central banks see Bitcoin as an alternative to gold.

Central banks and their view of cryptocurrency:

At the 27th Annual Asset Management Conference, Spread UBS Bank Study and Survey Supervised.

The study takes the central banks’ view of cryptocurrencies.

The study was conducted between April and June.

As for the sample, it was made up of 30 central banks from around the world.

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According to UBS, one of the largest Swiss banks, this study includes and raises questions related to asset management and how to view Bitcoin.

When the question was asked to central banks about the motivation of central banks to invest in cryptocurrencies such as Bitcoin, most of the answers came as follows:

To learn or to keep pace with what is obtained and benefit from it as an investment, as 83% of the participants answered that they believe that learning to deal with these new assets is an investment in itself.

While the answer for the second months was that these assets are not linked with other assets.

Others responded that they see Bitcoin as an alternative gold.

And 28% of the respondents viewed Bitcoin as an investment asset that is suitable for portfolio diversification, as it is not linked to any other asset.

The study addressed its questions to central banks about the possibility of considering Bitcoin as a safe haven in the future.

84% of the surveyed central banks answered that Bitcoin cannot be considered a safe haven and 16% said they did not know, and neither bank nor bank agreed about the possibility of considering Bitcoin as a safe haven in the future.

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What the study also touched on was the topic of central bank digital currencies and how their relationship with cryptocurrencies would be. 46% of these central banks answered that central bank digital currencies would be alongside encrypted digital currencies, and that cryptocurrencies would not replace the work of CBDCs.

While 33% of the respondents believed that digital currencies of central banks will replace cryptocurrencies.

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