Why do states make reserves cryptic and whether the future – BBC News in Serbian

The path that was gold crossed for thousands of years, they could cry in less than two decades.

Bitkoin, the oldest and most valuable cryptoval, exists since January 2009. year, and in March 2025. US President Donald Tramp He signed an enforcement order by which this country formally establishes the national strategic reserve Bitkoin.

America has joined several countries in the world, such as China, Great Britain, El Salvador or North Korea, and the trend of such strategic reserve, says Antonio Mele, Professor of London School of Economy (LSE), for BBC in Serbian.

Crypt The currencies are most similar to actions, and do not exist in physical, but only in digital form and are not under the control of banks.

« Cryptovalu offers unique benefits of autonomy of reserves and possible zoom in, but im missing the predictability and trust of institutions, such as gold or dollar, which form trational strategic reserves, » said Mele.

Bitkoin, which are also called « digital gold », is convincingly most commonly located in state reserves due to « age, liquidity, decentralization and reputation », adds an expert.

« His resistance to foreign forces control makes it especially attractive to countries who want more independence, » Mele says.

The United States will form reserves for now exclusively from bitkos seized in combating crime.

David Sax, Tramp advisor in this sphere, assesses them to The state’s owned has about 200,000the value of about 17 billion dollars per course in mid-April.

China is in second place with several thousand fewer, the United Kingdom has reserves of 61,000 Bitkoin, also have Ukraine, Bhutan, El Salvador, North Korea and other countries.

Nevertheless, the state is only more than two percent of the total number of bitkins on the planet.

There are experts who believe that the « financial system of the future will be based on Bitkoy’s as a symbol of value, » says Aleksandar Matanović, co-founder of the Serbian BitCoin Association, for the BBC in Serbian.

Some countries accordingly are « probably considered to be wise to prepare for such a scenario, if it is realized, » he adds.

« The tramp command only confirmed that they cry there to stay.

« As well as that in the future, it will be an increasingly important role, although it is not accompanied by a specific purchase of cryptoval, so the instance of their price was not large, » the Founder of ECD, the first exchange office for cryptoval in Serbia.

Why do states at all have reserves?

First of all, they make it ready for unexpected events and preserved stability, says Professor Antonio Mele.

Reserves may be various – from commodity, which often contain basic foods, foreign currency, in which the foreign currency is warehearted, most often the US dollar, gold to strategic.

In strategic, important raw materials like oil or gas are stored.

State reserves have several functions, notice Professor Mela.

« They support national security providing access to key goods such as oil and food during crises such as wars, natural disasters or trade blockades.

« Economically, financial reserves in foreign currencies or gold help stabilize national currencies and managing great market oscillations, » explains economist.

Their role is important to strengthen the ability of the state to meet financial obligations, protect wealth through the possession of different types of valuable raw materials, currencies or precious metals.

They can also be a geopolitical strategic advantage, if one country has control over key raw materials, adds.

« Finally, reserves are also one type of preparation of the country and are kept for moments when normal systems are scheduled, » Mele emphasizes.

Watch the video: What is bitkoin

Are strategic reserves and crypt out a good match?

Some experts take care of the instability of the cryptovalant market, which could have a negative impact on reserves made of them.

Bittkoin can get or lose five to 10 percent of value, and there were longer periods during which he has acciladed up to 80 percent, which are not problems that bring gold and the dollar, the professor of Mela.

The impact of market instability on reserves will depend mostly of reserves.

« Of course, the bigger, the more importantly affects the overall reserves.

« I don’t believe that they can influence public finance stability for now, just as variations in gold prices do not affect it, » says Aleksandar Matanovic.

As the benefits of battle in relation to gold and the dollar, he states « political neutrality », but also « ease of storage and transmission ».

« The main drawback is that this area is still quite new, so there is a great dose of distrust around the future of cryptoval, » Matanovic explains.

Compared to the dollar, the advantage of bitkoin is in fact that « does not require a network of banks », but can be transferred directly, without intermediaries and without control of some of the countries, Mele says.

At the same time, it cannot be the subject of sanctions, which is a threat when the reserves are made from the US dollars.

But the introduction of cryptoval in the reserves around the world could question their purpose, Ras Mold, director of the British company AJ BEL.

« In theory, strategic reserves should have for the purpose of storing values, which could change the opinion of skeptics and opponents in writing for the BBC in Serbian.

There is another problem.

« Five or 10 years ago, those who advocated the use of cryptovalad claimed that they have no contact points with authorities and wasters in power, that they are ‘outside the system’.

« Now they seem to be looking for not only approval from the authorities and regulators, but also want governments to buy cryptoval, » Mold explains.

He also says that they cannot have « both ».

« You can’t think that the current noise is to buy a crypt just another way for those who want to get rich, at least when it comes to some advocates, » the British expert believes.

World experiences: from El Salvador to North Korea

The cryptovala found each other in the state reserves after the seizure in the fight against crime.

For the last ten years, hundreds of thousands of Bitkins were seized in America, Great Britain, Bulgaria and other countries through criminal investigations or sanctions to individuals and entities who have possessed digital tokens.

Governments so began to possess the cryptoval « first not by their own will, but indirectly, » says Antonio Mele.

There were also the states in the cryptovaluta, they saw a way to circumvent sanctions, where Venezuela, Iran and North Korea are mostly belonging.

« Venezuela even launched her Cryptovalut Petro and considered the addition of bitke and the essence of foreign exchange reserves, while Iran turned up the share in Global Mining of Bitcoin, » Mele added.

The turning point in the relationship between the Digital Currents was the move of El Salvador from 2021. year, when this state adopted Bitkin as a regular payment agent and the reserves, which has increased to date at 6,100 Bitkoin.

« It attracted the world’s attention, and the Central African followed that example of 2022. year, it legalized the battle, although it does not hold significant amounts of reserves, » Mele says.

Today, the idea of ​​keeping reserve in cryptovaluts « has become part of the broader policy and economic debates » and « evolved from random seizures until a deliberate strategy, » a lecturer at the London School of Economics is considered.

He says that the approaches to the countries have used this type of strategic reserves differ by their « political goals, legal framework and geopolitical position ».

After the seizure, Finland decided to sell them 2022 in criminal cases. And money forwarded to Ukraine in mind during the war with Russia.

El Salvador He wanted a « increasing financial independence » and stimulation of investments, but the use of Bitkoin as a means of payment showed « unsuccessfulness of high market instability, » Mele explains.

Bhutan, a small asian country in Himalayas, belongs to five countries with the largest reserves in which more than 12,000 bitkos are worth more than $ 1.1 billion.

By selling in moments of high prices, the government of that country tries to help the economy, which is the previous time She did in November, selling 367 bitkeins.

Numerous actions of the seizure, America gained a large amount of bitke and other currencies, which previously sold at auctions.

But the currency tramp command will now be included in strategic reserves, « indicating a possible change of access, » the professor says.

North Korea, Iran and Russia often use cryptoval to transactions to bypass the sanctions of Western countries.

Pyongyang « secretly accumulates billions of dollars through hacker attacks to help sanctions and fund military program, but there are no public reserves » in North Korea, Mele says.

« Russia is exploring opportunities for cryptic and sanctions, but no formal reserves.

During the war, Ukraine received significant donations in cryptovaluts, but use them for urgent needs, not as reserves, « he adds.

However, most countries have not yet dared to move that route.

« It is possible that certain countries will make reserves from cryptoval, especially those under sanctions, but for now, it remains only an experiment that everyone carefully watches, » Mele concludes.

Where is the Balkans?

Balkan countries have not created public reserves from cryptoval.

« In Serbia, I do not expect this in the near future, and I do not see that anywhere in the region is about it for now, » says Aleksandar Matanovic.

The closest formation of crypto reserves (was) Bulgaria, which in 2017, seized more than 200,000 Bitkoin when a criminal group whose members were from Bulgaria, Serbia, Northern Macedonia, Romania and Greece, they announced then from Law Enforcement Center in Southeast Europe (SELEC).

The value of one bitkin was then something higher than $ 2,300, while at the moment nearly $ 83,000, which means that the total price of seized bits would be greater than $ 16 billion.

It is more than 15 percent of gross domestic product and almost a third of the value of the external debt of that country.

Due to the seizure of large quantities, speculation began that Bulgaria may have become one of the countries with the largest crypto reserves in the world.

From Sofia to so far did not affirm a public Because the trial of a criminal group is still ongoing.

Montenegro is the Balkan country that was most mentioned in the same sentence with cryptovaluts, mostly because South Korean businessman was arrested in Kwon due to digital token fraud.

Which is why it is at the end of 2024. extradited to America.

Milojko Spajic, current Montenegrin prime minister, 2022. As Minister of Finance, he publicly spoke about the intention of this The state becomes « crypto paradise » And that a third of the economy could be based on it by 2025.

The Montenegrin government was also established by the Directorate for Kruptovalo and Blokčetin, which was then off, and 2022. was awarded Montenegrin citizenship Vitaliku Baterina, co-founder Etherium blocks.

« As for the Balkans, if I had to guess who will first, I would probably choose Montenegro, » Matanovic says.

Follow us on Facebook, Twitter, Instagram, Jutjubu and Vajiberu. If you have a topic suggestion for us please contact (Email Protected)