ECB's Lagarde: 'Very unlikely' that central banks will hold Bitcoin in near future

European Central Bank president Christine Lagarde doesn't think central banks will hold bitcoin anytime soon.

During a conference call with The Economist, European Central Bank president Christine Lagarde said: "It's very unlikely — I would say it's out of the question” that central banks make such a move, according to a report by Business Insider


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This isn’t the first negative comment Lagarde has made about Bitcoin. She previously argued that Bitcoin is highly speculative and used for “funny business” and, and as a result, must be regulated. 

But despite the skepticism over Bitcoin, Lagarde conceded that the pandemic has boosted demand for digital currencies.

In fact, the ECB has been debating whether to create a digital euro, though decisions about the currency’s underlying technology have yet to be made.

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MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.