IMF positively assesses prospects of main cryptocurrency

The International Monetary Fund has assessed the impact of Bitcoin on the global market. In a new report, the IMF recognized the ability of BTC to have a positive impact on the economy.

Experts believe that the main cryptocurrency is the “key to autonomy” for many states in difficult economic situations. The report mentions the growing popularity of “digital gold” and the adoption of the crypto asset in various countries.

The first crypto coin has long been considered by many investors as a potential tool for portfolio diversification. And the difficult geopolitical situation has made Bitcoin and gold “more relevant.”

IMF analysts believe that such properties make BTC an important asset for developing economies. Recently, the financial market has experienced “large-scale digitalization,” against the backdrop of which the main crypto coin has played an important role, the International Monetary Fund is confident.

Analysts have identified clear patterns in the behavior of digital coins compared to conventional finance, especially in the context of the impact of various economic shocks on them.

The influx of traditional finance is falling amid the unstable exchange rate of the US dollar, while the number of transactions with BTC, on the contrary, is growing. This may be due to the digital asset’s appeal “as a tool to combat inflation.”

The authors of the report emphasize the serious impact of BTC operations on the GDP of a number of countries.

“This highlights their importance not only from an economic strategy perspective, but also their potential to support regions with limited access to traditional capital flows,” the analysts wrote.

In addition, they note that on-chain transactions with the first cryptocurrency often involve significant amounts and are largely dependent on the level of security of the blockchain and the size of the commission. At the same time, transactions with traditional finance are associated with the need to overcome political and economic restrictions.

Previously, former CEO of BitMEX Arthur Hayes expressed the opinion that inflation, growing government debt and a shortage of BTC supply in the market could become a prerequisite for the growth of the asset. Do you agree with the crypto enthusiast?