Independent Strategy

Central Banks and the digital rabbit hole

Central Bank Digital Currencies (CBDCs) are a reality; the timeframe for adoption is the uncertainty. Central bank involvement is not as straightforward as the currencies created by the private pioneers. The learning curve might prove bumpy. But like all evolutions the gains far outweigh the risks. The losers are easy to identify – it’s the commercial banks. It might also ultimately be the privacy of the individual, given the insight digital currencies allow into the flow of money. It reinforces our view that investors should be long gold. Being long Bitcoin as an alternate hedge is equally interesting.

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