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Fact Check: Banks will use the GCV value of Pi Coin There is a lot of discussion on platforms like Twitter right now about the cryptocurrency Pi Coin, the native currency of the Pi Network. The most talked about point is that banks may actually start recognizing a specific value for it called "Global Consensus Value" (GCV).
Essentially, people are extremely excited to hear that financial institutions in around 200 countries may start accepting Pi Coin at this maximum value, which is a very high value created by the Pi community itself. It's an idea that makes many in the Pi Network community optimistic about the future of the currency.
This means that banks will recognize the Pi currency in your digital wallet at this high value, instead of the low prices seen on some exchanges.
Ezoik
Rumors claim that "Global GCV Ambassadors" support this "double value movement" by buying Pi at market prices and conducting special transactions in GCV. They believe that this "double value" of Pi is "inevitable" and fair. This idea makes many in the Pi Network community optimistic.
These claims have gained strength thanks to a new application called Boostr. This app, which is part of the Pi Network, allows users to pay electricity bills and top up mobile phone credit using Pi Coin in many parts of Africa, Asia, and Latin America. The possibility of using Pi in everyday life has excited people, leading them to believe that major financial institutions may recognize its value soon, perhaps in GCV.
In fact, Pi users can now spend their coins on some services via Boostr. There is no announcement or official confirmation from the Pi Network itself, or from any major bank or financial institution, that they will use Pi Coin in GCV.
Currently, the GCV number, which is $314,159 decided by the Pi community, is not an official market price, and banks certainly do not recognize it.
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So, for now, all these claims are just whispers and hopes within the Pi Network group. Simply put, there is no conclusive evidence or official statement confirming that banks are ready to use Pi Coin at this high overall market value.
