Does the European Central Bank reserve Bitcoin? Official reply: No, it is just a speculative asset

Does the European Central Bank reserve Bitcoin? Official reply: No, it is just a speculative asset

Today, as the price of Bitcoin continues to rise, Bitcoin enthusiast Juuso Ilomaki tweeted @ecb (European Central Bank official Twitter) and asked:

“Does the ECB have plans to add Bitcoin to its reserves?”

Surprisingly, the ECB actually responded, writing:

“No, Bitcoin is not a currency, it is a very volatile asset.”



In fact, the European Central Bank also has an introduction to Bitcoin on its official website. It introduces BTC as follows:
Bitcoin is called a virtual currency , but what is it actually and what does it mean in relation to real money?
Essentially, it is an electronically exchangeable digital token that does not exist in physical form. Bitcoin is created and tracked by a network of computers using complex mathematical formulas, rather than by a single authority or organization.
So it is correct to call it virtual, but it is wrong to call it currency. Why is that?
No one endorses it;
It is not a universally accepted method of payment;
Users are not protected;
Too much volatility;
So if it's not a currency, then what is it?
Bitcoin is a speculative asset, in other words, it is something you can risk to make a profit, but there is a chance that you can also lose your investment.
Will the ECB ban Bitcoin?
It is not the ECB’s responsibility to ban or regulate Bitcoin or other cryptocurrencies . However, given the lack of consumer protection, it is important to be cautious.
If Lagarde becomes the new president of the European Central Bank, will the central bank's attitude towards Bitcoin change?
Recently, Christine Lagarde, Managing Director of the International Monetary Fund (IMF), was nominated as the new President of the European Central Bank. Previously, Lagarde has made many comments on cryptocurrencies . In an interview with CNBC, she said:

“I think disruptors and anything that uses distributed ledger technology, whether you call it cryptocurrency , assets, currencies, or whatever, are clearly shaking up the system.”

Such comments were interpreted by cryptocurrency investors as a supportive attitude.
So, assuming Lagarde does become the president of the ECB, will the institution’s attitude toward Bitcoin change?
At present, it seems that the central bank will still maintain a cautious attitude, that is, neither support nor oppose. As the industry develops more and more healthily and stably, the attitude of the European Central Bank may also change. (Babit Information)

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