Thursday, September 8, 2016

SWIFT Institute: We Do Not Fear Bitcoin

The SWIFT Institue, a bankster advisory council comprising of leading academics and  industry professionals in the financial transaction sector, is out with a new report on Bitcoin.

The report was prepared for the institute by Dirk G. Baur, of UWA Business School, KiHoon Hong,  of Hongik University College of Business and Adrian D. Lee of University of Technology Sydney, and says in part:
An empirical analysis of prices and user accounts (wallets) of Bitcoin supports the theoretical result and finds that Bitcoin is mainly used as a speculative investment rather than a medium of exchange... Finally, we argue that the design and the size of virtual currencies such as Bitcoin do not pose an immediate risk for monetary, financial or economic stability..if anything, fiat currencies crowd out virtual currencies...

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