ECB "Bitcoin Will Not Be Introduced into European Bank Reserves"

Christine Lagarde, President of the European Central Bank (ECB), stated on the 30th (local time) that "Bitcoin will not be introduced into the reserves of any central bank participating in the ECB General Council."

According to Bloomberg, President Lagarde held a press conference in Frankfurt, Germany, where she said, "Reserves must be liquid and safe, and should not be subject to suspicions of criminal activities such as money laundering. This view is shared by both the ECB Governing Council and the General Council." Unlike the policy-making Governing Council, which includes only central bank governors from the Eurozone (20 countries using the euro), the ECB General Council encompasses all EU countries.

President Lagarde's remarks were in response to recent comments by Ales Michl, Governor of the Czech National Bank, who mentioned considering purchasing Bitcoin with about 5% of reserves as part of asset diversification. She stated, "Governor Michl, like all of us, is convinced that reserves must be liquid, stable, and safe."

The price of Bitcoin surged following the election of Donald Trump as President of the United States. Bitcoin, which was around $64,000 in early November last year, is now trading at around $104,000.

Reporter Hankyung hankyung@hankyung.com