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ECB President: Bitcoin Will Never Enter European Treasuries
Christine Lagarde, President of the European Central Bank, has categorically stated that Bitcoin will never be accepted as a reserve asset in the central banks of the European Union. This stance was taken in response to the proposal of the head of the Czech Republic’s central bank to add Bitcoin to the country’s national reserves. Lagarde emphasized that Bitcoin does not have the main characteristics of a reserve asset, including liquidity, security and stability. Referring to Bitcoin’s volatility and the lack of a central controlling entity, she considered this digital currency, unlike gold and government bonds, an uncertain and unreliable asset in times of economic fluctuations. It is worth noting that other European countries, such as Poland and Romania, also share the ECB’s view and are likely to refuse to hold digital currencies on their official balance sheets.