Another bank pointed to the giant potential of Bitcoin
One of the largest Asian banks, Bank of Singapore, has joined those lending institutions that see bitcoin as a promising instrument.
Bank of Singapore analysts admitted that BTC will not only be able to compete with gold for the status of the safest asset, but also has a chance to knock out the precious metal from the first place in this rating.
Experts expressed this point of view in a memo prepared for the bank's investors. If countries accelerate the implementation of crypto regulation, then the entry of institutional capital into digital assets can become massive.
Lending institution economist Mansur Mokhi-uddin stressed: “Investors need reliable institutions to be able to securely store digital currencies. Liquidity should improve significantly, which will reduce volatility to the desired level. "
If all these tasks are solved, then the flow of bitcoins into the portfolios of financial structures will accelerate.
Mohi-uddin also added that cryptocurrency can be easily moved and stored compared to precious metals. However, it is worth remembering that the risks of hacking wallets and stealing coins persist, so it is necessary to constantly improve the system for safe storage of cryptocurrency.