Bitcoin Policy Research Institute: Bitcoin is an "Effective Portfolio Diversification Tool"

According to Cointelegraph, the Bitcoin Policy Institute recently published a paper titled "The Case for Bitcoin as a Reserve Asset". The paper argues that central banks around the world should adopt bitcoin as a reserve asset to hedge against rising inflation, geopolitical risks, capital control risks, sovereign defaults, bank failures and international sanctions imposed by the U.S. government.

The author of the paper, economist Matthew Ferranti believes that due to the weak correlation between decentralized assets and other financial instruments, bitcoin is an "effective portfolio diversification tool."