ECB President Rejects Bitcoin as Reserve Asset for EU Central Banks

Christine Lagarde cites Bitcoin's volatility and security concerns, contrasting with growing U.S. interest in adopting the cryptocurrency as a reserve asset.

• European Central Bank President Christine Lagarde stated that Bitcoin will not be included in the reserves of any EU central banks, emphasizing the need for liquid, secure, and safe assets.
• Lagarde's comments follow a proposal by Czech National Bank Governor Aleš Michl to study the potential of Bitcoin as part of the country's reserve assets.
• The Czech National Bank has approved a proposal to explore diversifying its reserves into new asset classes, including potentially Bitcoin, though no decisions have been made yet.
• The U.S. has taken a contrasting stance, with President Donald Trump pushing for Bitcoin adoption as a reserve asset and forming a task force to study digital assets.
• Bitcoin's price has experienced significant volatility, with a recent drop of 1.23% to approximately $104,002, highlighting its contentious role in global financial systems.

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