ECB President Lagarde Dismisses Bitcoin as Reserve Asset for Member States
European Central Bank (ECB) President Christine Lagarde expressed skepticism regarding the adoption of Bitcoin as a reserve asset by member states. During a press conference, Lagarde emphasized Bitcoin's volatility and its association with illicit activities, stating that reserves must be secure and safe. Despite Bitcoin's price increase of 150% over the last year, driven by institutional interest and regulatory changes in the U.S., Lagarde is confident that Bitcoin will not be included in the central banks' reserves. While the ECB cannot prohibit member states from investing in Bitcoin, it can influence their decisions through investigations and penalties. Although European lawmakers remain cautious, some have started to show interest, with mentions of exploring the inclusion of Bitcoin in national reserves. Still, widespread adoption among European nations appears unlikely in the near future.
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