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BIS To Allow Member Banks To Hold 1% Of Their Reserves In Bitcoinwww.zerohedge.com/crypto/bis-allow-member-banks-hold-1-their-reserves-bitcoin
130 sats \ 2 comments \ @faithandcredit 1 Jul 2022 bitcoin
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43 sats \ 0 replies \ @cryptocoin 1 Jul 2022
Frances Coppola on this:
Dear Finbold, the BIS is not "allowing banks to keep 1% of reserves in Bitcoin". It is actually severely limiting banks' exposure to Bitcoin and other Group 2 crypto assets. AFAIK no other asset class has an absolute capital exposure limit like this. https://finbold.com/bank-for-international-settlements-to-allow-banks-to-keep-1-of-reserves-in-bitcoin/
And some other Tweets of hers are along the same lines.
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0 sats \ 0 replies \ @faithandcredit OP 1 Jul 2022
Imo this the wrong approach because it forces banks to sell btc when the price goes up to remain under the 1% limit which defeats the whole purpose of holding? The amount they would be allowed to hold should be a fixed amount of BTC
For what it's worth I'm currently a bitcoin bear short term.
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