The president of the European Central Bank (ECB), Christine Lagarde, denied the possibility that Bitcoin (BTC) reaches the reserves of the central banks of the European Union (EU).
In comments to journalists, Lagarde affirmed: “I am sure that Bitcoin will not enter the reserves of any of the central banks of the EU General Council.”
With these statements, Lagarde responded to the governor of the Central Checo Bank, Ales Michl, Who stated that he would like BTC formed 5% of his country’s reserves, which would represent an investment of 7,300 million dollars in Bitcoin, as Cryptonotics reported.
Lagarde argued that there is an opinion around the Bureau of the Governing Council, and most likely also of the General Council, that “the reserves have to be liquid, they have to be safe, that they should not be plagued by money laundering suspicions or other criminal activities ”. In this way, Lagarde insists that Bitcoin is used for financial crimes, without taking into account that the same happens, to a greater extent, with the euro, the dollar and all Fíat currencies.
The BCE president said she also talked with Michl on the subject and commented: “I leave him to make the announcement he wants to do. But I am sure that he is convinced, as we are all, of the need to have liquid and safe reserves. ”
In a chain of events, this Thursday it was known that the Board of the Central Bank of the Czech Republic decided to approve a proposal for assess The inclusion of Bitcoin as a reserve, thus discarding the suggestions of Lagarde, as well as the sovereign mood of the Czech monetary entity.
A topic in boom
The issue of Bitcoin reserves in the world is booming, with several countries in a struggle to lead the movement. In recent years, a growing interest of governments has been observed in exploring or even integrate cryptocurrencies into their national reserves or as part of its monetary policies, with outstanding examples such as that of El Salvador and the United States.
El Salvador was a pioneer when adopting Bitcoin as legal tender in 2021, allowing its use For any commercial transaction within the country. Since then, other nations have shown curiosity or started pilots to better understand the implications of cryptocurrencies in their economy.
However, the Lagarde position reflects a generalized concern between European central bankers about volatility, security and regulation of Bitcoin and cryptocurrencies.
The debate on whether these assets must be part of the official reserves of the countries continues, with arguments for and against. Defenders argue that cryptocurrencies can diversify and potentially increase the value of reserves, while critics, such as lagarde, argue about the risks associated with lack of regulation and the possibility of facilitating illegal activities.
This debate is not only relevant in the European context, but also at the global level, where countries like China have banned cryptocurrency transactions, while others, such as Ukraine, have advanced in regulation to integrate them into the financial system, as reported Cryptootics.
Lagarde’s decision to keep Europe away from Bitcoin in his reserves marks a clear line of conservatism in the face of financial innovation representing cryptocurrencies.
The discussion about Bitcoin reserves in central banks remains a hot topic, with implications that could Change the way in which countries manage their economies and his foreign exchange reserves in the future.
Lagarde’s position could influence the decisions of other central banks within the European Union, although the debate is likely to continue evolving As technology and regulations around cryptocurrencies develop.
