This is a very important event for an ecosystem. Financial institutions have started supporting Bitcoin. There is an obvious reason why banks oppose the cryptocurrency, given that they cannot control this new form of money. It is widely believed that the ban on the Chinese bitcoin-exchange was the direct result of the disappointment that befell the government when it realized that it does not have the right to share the profits obtained with this new type of money they cannot control.
At the moment, central banks in other countries adhere to a more cautious approach. In most cases, they simply issue warnings saying that cryptocurrencies are not regulated in a particular country and say that investing in bitcoins has its own set of risks. All of these comments are more than truthful, but they can also be applied to any other form of investment as far as the risk factor is concerned. Bitcoin has the potential to cause both losses and profits – potentially greater than that of any other traditional type of investment.
The support of an international bank based in Switzerland is a big success for Bitcoin. The world’s largest central bank said that one cannot ignore the bitcoin boom.
