{"id":130967,"date":"2021-07-02T14:03:18","date_gmt":"2021-07-02T14:03:18","guid":{"rendered":"https:\/\/precoinnews.com\/?p=130967"},"modified":"2021-07-02T14:03:18","modified_gmt":"2021-07-02T14:03:18","slug":"crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/","title":{"rendered":"Crypto ownership has nothing to do with distrust in fiat: BIS study"},"content":{"rendered":"

The Bank for International Settlements (BIS), a global financial institution owned by some of the world\u2019s biggest central banks, is trying to dispel the theory that cryptocurrency ownership is linked to distrust in traditional finance.<\/p>\n

On Thursday, the BIS published a paper on the socioeconomic drivers of cryptocurrency investments in the United States. Employing representative data from the U.S. Survey of Consumer Payment Choice, BIS argued distrust in fiat currencies such as the U.S. dollar has nothing to do with investor motivation to hold cryptocurrencies like Bitcoin (BTC), stating:<\/p>\n

\u201cDemand for cryptocurrencies is not driven by distrust in cash or the financial industry, given that there are no differences in the perceived security of cash and offline and online banking. We can thus preliminarily disprove the hypothesis that cryptocurrencies are sought as an alternative to fiat currencies or regulated finance.\u201d<\/p><\/blockquote>\n

The authority stressed that cryptocurrencies are not sought as an alternative to fiat currencies or regulated finance but instead are a \u201cniche digital speculation object.\u201d BIS noted that from a policy perspective, the overall takeaway of the analysis is that investors\u2019 objectives are the \u201csame as those for other asset classes, so should be the regulation.\u201d<\/p>\n

Related: <\/em><\/strong>El Salvador\u2019s Bitcoin adoption an \u2018interesting experiment,\u2019 says BIS exec<\/em><\/strong><\/p>\n

The BIS paper also outlines major correlations between crypto investment choices and the level of education and income, suggesting that cryptocurrency owners are \u201cgenerally more educated than the average.\u201d Ether (ETH) and XRP investors showed the highest education level in the BIS\u2019 analysis, while those owning Litecoin (LTC) were the least educated, with Bitcoin owners ranking in the middle.<\/p>\n

<\/p>\n

The new report brings significant relevance that cryptocurrencies like Bitcoin pose no threat to traditional finance tools, as crypto demand is not driven by distrust in cash. A number of global authorities and institutions previously expressed concerns about Bitcoin\u2019s ability to capitalize on global distrust in traditional finance.\u00a0<\/p>\n

In late December, Morgan Stanley Investment\u2019s Ruchir Sharma argued that the U.S. dollar\u2019s reign will likely end due to global distrust in traditional finance, while Bitcoin would capitalize on the lack of confidence.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Bank for International Settlements (BIS), a<\/p>\n","protected":false},"author":3,"featured_media":130966,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nCrypto ownership has nothing to do with distrust in fiat: BIS study - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto ownership has nothing to do with distrust in fiat: BIS study - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"The Bank for International Settlements (BIS), a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-02T14:03:18+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/Crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-BIS-study.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/\",\"name\":\"Crypto ownership has nothing to do with distrust in fiat: BIS study - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-07-02T14:03:18+00:00\",\"dateModified\":\"2021-07-02T14:03:18+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto\",\"item\":\"https:\/\/precoinnews.com\/category\/crypto\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Crypto ownership has nothing to do with distrust in fiat: BIS study\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Crypto ownership has nothing to do with distrust in fiat: BIS study - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/","og_locale":"en_US","og_type":"article","og_title":"Crypto ownership has nothing to do with distrust in fiat: BIS study - Pre Coin News","og_description":"The Bank for International Settlements (BIS), a","og_url":"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/","og_site_name":"Pre Coin News","article_published_time":"2021-07-02T14:03:18+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/07\/Crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-BIS-study.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/","url":"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/","name":"Crypto ownership has nothing to do with distrust in fiat: BIS study - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-07-02T14:03:18+00:00","dateModified":"2021-07-02T14:03:18+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/crypto\/crypto-ownership-has-nothing-to-do-with-distrust-in-fiat-bis-study\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Crypto","item":"https:\/\/precoinnews.com\/category\/crypto\/"},{"@type":"ListItem","position":3,"name":"Crypto ownership has nothing to do with distrust in fiat: BIS study"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/130967"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=130967"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/130967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/130966"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=130967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=130967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=130967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}