Quickly understand the history and background of various well-known coins

ECB's Lagarde Dismisses Bitcoin as EU Reserve, Despite Czech Bank's Study

Coin WorldThursday, Jan 30, 2025 5:58 pm ET

1min read

The European Central Bank (ECB) President Christine Lagarde has dismissed the idea of Bitcoin being included in the EU's reserves, despite the Czech National Bank's (CNB) exploration of the possibility. The CNB has approved a study to assess how Bitcoin might serve as a reserve asset, following a proposal from CNB Governor Aleš Michl.

Michl has previously argued for the diversification of the bank's investment portfolio and the consideration of alternative asset classes, including Bitcoin. His proposal suggested allocating a portion of the CNB's €140 billion ($145.6 billion) in reserves to BTC. The CNB stated that the Bank Board will decide how to proceed based on the results of the analysis.

However, Lagarde remains unconvinced, stating that she is "confident" that no EU central bank will adopt Bitcoin as a reserve asset. Notably, the Czech Republic is an EU member but does not use the euro as its official currency.

The concept of national and institutional Bitcoin reserves is gaining momentum both within Europe and beyond. In the U.S., President Trump and several senators have worked on legislation aimed at establishing a strategic BTC reserve. U.S. states have also joined the race, with nearly a dozen jurisdictions considering laws to buy BTC with taxpayer dollars.

Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.