The post European Central Bank President Dismisses BTC as Viable Reserve Asset appeared on BitcoinEthereumNews.com.

Lagarde’s comments were made despite the growing discussions on Bitcoin adoption around the world, and particularly in the US. Meanwhile, Norway’s sovereign wealth fund increased its indirect Bitcoin exposure, while El Salvador continues accumulating Bitcoin despite amending its laws to align with IMF conditions. Additionally, Grayscale launched a Bitcoin Miners ETF that gives investors indirect exposure to the mining sector. European Central Bank Stands Firm Against Bitcoin in Reserve Strategies Christine Lagarde, President of the European Central Bank (ECB), dismissed the possibility of Bitcoin (BTC) being included in central bank reserves as there is a need for liquidity, security, and safety in reserve assets. Her comments were made after Czech National Bank Governor Aleš Michl suggested the institution explore Bitcoin as part of its diversification strategy. However, the Czech central bank’s board did not explicitly mention Bitcoin in its plans. Lagarde’s statement is one of the first clear rejections from the ECB regarding Bitcoin as a reserve asset, especially at a time of growing discussions around digital asset stockpiling. The comments also follow US President Donald Trump’s executive order to establish a working group for exploring regulations on a national digital asset reserve. At least one ECB member has advocated for exploring a digital euro in response to the Trump administration’s openness toward crypto. The push for Bitcoin adoption as a reserve asset gained a lot of traction globally. This is particularly true in the United States, where lawmakers from states like Texas, Utah, Illinois, Wyoming, and Arizona introduced legislative proposals for Bitcoin stockpiling. These initiatives were inspired by the advocacy group Satoshi Action Fund, which championed the idea of Bitcoin as a financial hedge. Meanwhile, Coinbase CEO Brian Armstrong also urged global policymakers to consider BTC reserves as protection against inflation. Christine Lagarde at the European Council El Salvador…

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Filed under: News - @ January 31, 2025 6:16 am