IMF Updates Global Standards to Include Bitcoin – Dennis Porter Clears Up ‘Digital Gold’ Confusion

Recently, the IMF (International Monetary Fund) has updated its payments balance standards to take into account the growing importance of digital assets. For the first time, cryptocurrencies like Bitcoin (BTC) are officially recognized in global economic relationships.

An analyst, Ashcrypto, shared an article on X (formerly Twitter) saying that the IMF had called Bitcoin “Digital Gold”. This created a buzz in the cryptographic community. However, Dennis Porter, a well-known voice in space, quickly questioned this interpretation, asking: “Can someone indicate exactly where the IMF says that bitcoin is” digital gold “?”

After plunging into the IMF declaration, Dennis clarified the source of confusion. The IMF actually called Bitcoin as a “new digital asset designed to be used as a means of payment or act as a value store”.

He pointed out that the expression “conceived to be” is crucial here and that does not necessarily mean that the IMF officially approves bitcoin as “digital gold” or guarantees its stability or its value like gold. It is more a question of recognizing the potential of Bitcoin, of not confirming it as a proven asset.

The “value store” idea for Bitcoin is debated because of its volatility. Unlike Gold, which has a long history of stability, the price of Bitcoin can fluctuate considerably.

The latest IMF update on the Manual of the Balance of Payments (BPM7) now includes cryptocurrencies like Bitcoin (BTC) in its global economic framework. This is the first time that the IMF has provided clear guidelines on how digital assets should be followed in global financial statistics, marking a big step for the crypto in the financial world.

Cryptos like Bitcoin are classified as non -productive capital assets, while stablecoins are treated as financial instruments. The update also modifies the way in which cross -border cryptographic transactions, milestone and mining are followed, mining and staggered are now registered as services in exports / imports of IT services from a country.

This update is a big step in the official recognition of digital assets within the framework of the world economy, helping to better follow them and regulate them in the future.