European Lawmakers Silent on US Bitcoin Reserve Amid Digital Euro Push

European lawmakers have maintained a notable silence regarding the United States’ recent move to establish a Strategic Bitcoin Reserve. This policy, announced by former US President Donald Trump in March, involves using seized cryptocurrency from criminal cases to build the reserve, rather than purchasing Bitcoin directly from the market. The significance of this decision lies in its potential to integrate Bitcoin into national reserves, a move that has sparked global interest in the economic implications of cryptocurrency.

Despite the potential impact of the US Bitcoin Reserve on global financial systems, European policymakers have not made any substantial public statements on the matter. This silence has raised questions about Europe's stance on integrating Bitcoin into national reserves. According to Anastasija Plotnikova, co-founder and CEO of a blockchain regulatory firm, the lengthy process of adding new assets to national treasuries may be a contributing factor. She noted that such additions typically require clear legislative or executive processes and often lack active voter or central bank support to drive them forward.

Plotnikova also highlighted the European Central Bank's (ECB) historical and current criticism of Bitcoin as a reserve asset, suggesting that this stance effectively closes the door for EU member states to consider Bitcoin for their reserves. This perspective is further supported by the ECB's focus on launching the digital euro, a central bank digital currency (CBDC). The digital euro is seen as a more controlled and regulated alternative to decentralized cryptocurrencies like Bitcoin, aligning with the EU's emphasis on financial stability and oversight.

James Wo, the founder and CEO of a venture capital firm, suggested that European lawmakers' silence on the US Bitcoin Reserve is likely due to their focus on the digital euro. The recent outage in the ECB’s Target 2 (T2) payment system, which caused significant transaction delays, has raised concerns about the ECB's ability to manage a digital currency while struggling with daily operations. This incident underscores the challenges faced by central banks in transitioning to digital currencies and highlights the need for robust infrastructure to support such initiatives.

Despite skepticism, ECB President Christine Lagarde is pushing ahead with the digital euro’s rollout, expected in October 2025. Lagarde has emphasized that the CBDC will coexist with cash and offer privacy protections to address concerns about government overreach. The digital euro is designed to be pseudonymous and cash-like in nature, ensuring that users' privacy is maintained while providing the benefits of