Bitcoin not suitable for ECB reserves, says Lagarde

The president of the European Central Bank, Christine Lagarde, said that the bank would not plan to keep Bitcoin reserves, even though the sovereign entities are increasingly turning to the assets.

A longtime bitcoin (BTC) Skeptical, Lagarde has remained insensitive to the growing trend in the use of Bitcoin as a reserve asset to cover yourself against inflation as a reserve asset to cover itself against increasing inflation.

At a press conference on January 30, Lagarde said She was “confident that Bitcoin will only enter the reservations of any of the central banks of the General Council”.

The opposition from Lagarde to Bitcoin and other digital assets is well documented. The president of the European Central Bank has repeatedly criticized Bitcoin, saying that it serves as a vehicle for money laundering and illegal finance.

Speaking shortly after the last interest rate decision of the European Central Bank, Lagarde also argued that the speculative nature of Bitcoin, liquidity constraints and regulatory uncertainties disqualify it to be a reserve asset viable.

There is a view around the board of the board of directors and most likely the general council also that the reserves must be liquid, that the reserves must be secure, that they must be sure, that they should not be in prey to the suspicion of money laundering or other criminal activities.

Christine Lagarde, president of the ECB

Lagard’s comments reaffirmed his previous rhetoric and confirmed the BCE’s approach to BTC-Reserve-ASET conversations. However, all of Europe cannot agree with this position.

Banks in Norway and Switzerland invested In companies such as Microstrategy, which keep Bitcoin on their balance sheets. Although these investments are not equivalent to direct Bitcoin titles, they indicate a possible appetite for Bitcoin exposure and a desire to integrate assets into financial strategies.