Coinspeaker
Bitwise CIO Shares 3 Key Takeaways from IMF Bitcoin Payments Report

Bitwise CIO Matt Hougan has an opinion on the Bitcoin (BTC) payments report that was published by the International Monetary Fund (IMF) earlier this month and he has taken to X to share them.

Bitcoin as a Tool for Economic Freedom

According to the Bitwise executive, the leading cryptocurrency by market capitalization is largely used by residents of countries that have limited access to the broader global economy.

These are nations that are suffering from capital controls and then decide to turn to BTC as a release value. Hougan highlighted this key takeaway to support a repetitive statement that appeared in the IMF Working Paper.

The foreign agency noted that “the magnitudes of the estimated Bitcoin cross-border flows are sizeable with respect to several countries’ GDP, especially in those which experience relatively small capital flows.”

Notably, this outlook is not unfounded considering that many individuals, governments, and even some organizations view Bitcoin as a tool for economic freedom. This can be seen with the BRICS bloc where countries like Brazil, Russia, India, China, South Africa, and Saudi Arabia which recently became part of...