How Bitcoin Could Reach a New All-Time High
Bitcoin (CRYPTO: BTC) has traditionally been viewed as a hedge against central banks. However, one Harvard Ph.D. candidate believes it's these central banks that could spark Bitcoin's next leg up and possibly give it the momentum to return to previous all-time highs.
Matthew Ferranti is in pursuit of his doctorate in economics, and his most recent working paper covers a topic most economic studies tend to avoid. His work attempts to prove that now, more than ever, the likelihood of a central bank or government adding Bitcoin to its reserves is at an all-time high.
When Russia invaded Ukraine in February 2022, global powers such as the U.S. and the European Union coordinated an all-out financial attack on Russia by placing sanctions on its economy. They froze the assets of specific individuals, placed bans on the import of Russian oil, and even targeted Russian banks, effectively excluding them from the world's financial system.
Source Fool.com
