Banks are secretly hoarding crypto

xuanling11
Coinmonks
Published in
3 min readAug 7, 2022

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Photo by Steven Lelham on Unsplash

In the digital economy, everything is connected. As a result, banks are hogging digital currency to protect their wealth and secure deposits. As a result, banks are worrying about their future. Banks are not growing faster than the money created by the government. Cryptocurrency, on the other hand, is growing faster than ever.

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What’s up with all the digital currency being stored on bank servers?

Depending on your perspective, digital currency is either a good thing or a bad thing. You could actually see the difference in your financial statements if you spend a lot of time on the stock market or on investment instruments such as ETFs or savings accounts.

The general consensus is that digital currency is a positive as it makes investing easier and more attractive. But it’s not just investors who find digital currency attractive because it gives them more flexibility and security than paper money. Financial institutions also use digital currency for payments and as a store of value.

Why is banks hoarding crypto?

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