Yigit Taha OZTURK 
Christine Lagarde, the President of the European Central Bank (ECB), has made a strong statement, asserting that Bitcoin will not become a reserve currency in the European Union (EU). In her remarks, Lagarde dismissed any possibility of Bitcoin being included among the reserve assets of central banks in the EU.
Lagarde highlighted the volatility and lack of regulation of Bitcoin and other cryptocurrencies, which could pose risks to economic stability. She emphasized that Bitcoin could never replace more traditional and stable currencies like the Euro as a reserve asset.
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Her comments have sparked significant reactions in the EU’s crypto market. While Bitcoin and other cryptocurrencies are gaining global popularity, the stance of central governments and financial authorities is shaping up. However, Lagarde reiterated that the ECB will continue to support the Euro as a stable reserve currency.
The future of cryptocurrencies and their role in the financial system remains uncertain in the EU, but Lagarde believes that Bitcoin and similar digital assets are too volatile and risky to challenge the foundations of the current financial system.
The future of Bitcoin and cryptocurrencies remains a hot topic on the agenda of central banks worldwide. Yet, Lagarde’s statement marks the EU’s distancing position toward Bitcoin and other digital currencies.
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