Chris Thomas, head of digital assets at Swissquote, believes that the most profitable investment in 2021 will be buying BTC and ETH. In the same year, many central banks will launch their own digital currencies.
In an interview, Chris Thomas called the acquisition of Bitcoin and Ether with long-term storage of these cryptocurrencies “a safe investment strategy.” According to Thomas, these assets will exist for many more years.
With the increased demand from institutional investors for Bitcoin and the nascent interest of organizations in Ether, the value of these crypto-assets will grow rapidly. The demand of financial companies for cryptocurrency and custody services is due to the difficult economic situation around the world. However, this is precisely what creates the prerequisites for Bitcoin and Ether to consolidate their positions in the market as an asset class.
The specialist also shared his thoughts on the prospects for digital currencies from central banks. Given that the Chinese government is actively testing the digital yuan in several cities and is even developing a special hardware wallet to store it, this country could launch its own stablecoin as early as next year.
Talking about European countries, Thomas suggested that Sweden could be the first country in the European Union to issue a digital Swedish krona. Cash in this country is no longer popular among the population, so the level of acceptance of cryptocurrency from the Swedish central bank can be quite high. Earlier, the Swedish government said it plans to complete research related to the release of the state cryptocurrency by the end of 2022.
Many central banks started thinking about issuing digital currencies due to fears that Facebook’s Libra stablecoin could dominate regular money, thereby destabilizing the entire global financial system.
