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ECB President Christine Lagarde Says ‘It's out of the Question’ That Central Banks Would Hold Bitcoin Soon

ECB President Christine Lagarde Says ‘It’s out of the Question’ That Central Banks Would Hold Bitcoin

The president of the European Central Bank (ECB), Christine Lagarde, has clarified whether or not central banks will begin holding bitcoin now {that a} rising variety of corporations, like Tesla, are embracing the cryptocurrency. Lagarde stays skeptical about bitcoin, having just lately mentioned it “has performed some humorous enterprise.”

ECB Chief Christine Lagarde Denies Central Banks Will Hold Bitcoin

Following Elon Musk’s Tesla investing $1.5 billion in bitcoin, the president of the European Central Bank (ECB), Christine Lagarde, has clarified whether or not central banks will maintain bitcoin.

During a convention name hosted by The Economist Wednesday, Lagarde mentioned that she didn’t think about bitcoin to be an actual foreign money, emphasizing that central banks gained’t be holding it as a reserve foreign money. She was quoted by Business Insider as saying:

It’s impossible. I might say it’s out of the query.

Lagarde just lately referred to as on all international locations, significantly the G7 or the G20 nations, to impose extra rules on bitcoin. She mentioned bitcoin was “a extremely speculative asset, which has performed some humorous enterprise and a few fascinating and completely reprehensible cash laundering exercise.” Many folks quickly identified that she was mistaken and most illicit actions are performed in fiat currencies.

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Despite being skeptical of cryptocurrencies, like bitcoin, the president of the ECB famous that the coronavirus pandemic has pushed economies towards sooner digital adoption, and the digital euro could also be prepared inside 4 years.

Do you assume central banks will ultimately maintain bitcoin? Let us know within the feedback part beneath.

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