Bitcoin Could Become the No. 1 International Trade Currency, Says Citigroup Analysts

Bitcoin Could Become the No. 1 International Trade Currency, Says Citigroup Analysts
Eric Volkman, The Motley Fool
·2 min read

The world's leading cryptocurrency is also poised to become its leading means of transaction for international trade, according to a notable group of analysts. A team from Citigroup's (NYSE: C) Global Perspectives & Solutions (GPS) research unit made that eye-opening analysis of Bitcoin (CRYPTO: BTC) in a 108-page report titled "Bitcoin: At the Tipping Point" published on Monday. "It is immune from both fiscal and monetary policy, avoids the need for cross-border foreign exchange (FX) transactions, enables near instantaneous payments, and eliminates concerns about defaults or cancellations as the coins must be in the payer's wallet before the transaction is initiated," the Citibank prognosticators wrote of the white-hot cryptocurrency in their report.