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.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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