European Central Bank (ECB) President Christine Lagarde recently shared her thoughts on Bitcoin. She doesn’t see any EU country adopting it as a reserve asset. This shows a clear skepticism about cryptocurrencies in central bank reserves.
Her comments came after Czech National Bank (CNB) Governor Aleš Michl got the green light to explore alternative assets for the Czech Republic's reserves. While Lagarde is cautious, Michl is more open to the idea. He has even suggested putting up to 5% of the Czech reserves into Bitcoin. However, this proposal has sparked mixed reactions among officials.
Lagarde firmly stated that Bitcoin doesn’t meet the requirements for central bank reserves. She reinforced the ECB's long-standing position against using cryptocurrencies in the EU’s monetary system.
European crypto influencer Robin Seyr had a strong reaction to Lagarde’s stance. He said, “I love how Lagarde wants a liquid, secure & safe reserve, and then laughs at Bitcoin. She either didn’t do her homework, or has an agenda. Probably both.”
Interestingly, the Czech Republic, while part of the EU, doesn’t use the euro. This gives its central bank more freedom in financial decisions. Plus, the country has shown a growing interest in Bitcoin. In December, they introduced new policies to make crypto taxation easier.
The discussion about Bitcoin reserves isn’t just happening in the Czech Republic. Last month, former German Finance Minister Christian Lindner suggested looking into Bitcoin as a reserve asset. Additionally, Switzerland is pushing to include Bitcoin alongside gold in its national reserves. To move forward, Swiss lawmakers need to collect 100,000 signatures by mid-2025.
Simon Dixon expressed his opinion, saying, “Let the ECB roll out their CBDC while EU nations hedge against EUR control with Bitcoin reserves in their own treasuries—breaking free from the ECB’s Fed-first policies.”
In the United States, interest in Bitcoin reserves is also growing at the state level. Over 15 states have introduced bills to allocate funds for Bitcoin purchases. Texas has made Bitcoin reserves a top priority for 2025. Illinois and Indiana are considering similar legislation.
On a national scale, former President Donald Trump signed an executive order to study creating a digital asset stockpile. The potential of Bitcoin as a reserve asset is becoming a hot topic worldwide. Central banks and policymakers are weighing the risks and benefits of integrating digital assets into their financial systems.