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ECB President Says Digital Euro Coming, Addresses Potential for Central Banks To Own Bitcoin

by Daily Hodl Staff
February 11, 2021
in Bitcoin

European Central Bank (ECB) president Christine Lagarde has confirmed a digital euro is in development.

Business Insider reports that during a recent conference call, Lagarde said she believes digital currencies have a space in the future financial system, and a digital version of the euro could launch within approximately four years.

As for whether central banks will hold BTC as a reserve currency in the near future, she is far less optimistic.

“It’s very unlikely – I would say it’s out of the question.”

Lagarde recently described Bitcoin as a “highly speculative asset” and called upon global regulatory bodies to further regulate the flagship cryptocurrency

Lagarde says she sees the digital euro, the European Union’s electronic central bank currency, as a better option to Bitcoin.

Lagarde and the ECB have debated the benefits of introducing a digital euro for some time.

Back in 2019, Reuters reported that Lagarde saw a large demand for digital assets in the form of stablecoins, and warned that the ECB should meet that demand or risk falling behind the curve.

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