Citigroup has been reported to say that the bank has been partnering with central banks globally to build Central Bank Digital Currencies. Speaking on Friday CEO Michael Corbat said at the Bloomberg Invest Talks ” CBDCs are the inevitable future of money”. Michael Corbat , who took over at the helm in 2012, didn’t reveal the specific governments the bank was working with.
“We’ve been working with governments around the world in terms of the creation and commercialization of sovereign digital currencies. I think it’s inevitable that they will be coming,” said CEO Michael Corbat.
What are your thoughts here are some on the topic from twitter: The central banks and governments are stimulating and markets are at all time highs, this seems to indicate that the fed and CB’s can see a problem that others cannot, otherwise why need stimulus? On a valuation basis we are at all time highs, consequently future stock returns look poor. Pretty soon Monopoly will have to issue a hyper-inflation edition of the classic board game. When a kilogram of bread will cost $50 in 10 years, you’ll be glad you chose bitcoin in 2020. There may be a wall of institutional money coming 2021. Silver may also be the next to move due to AOC’s Green New Deal. Many are predicting a bright future for gold silver Bitcoin and entrepreneurs.