What is the main topic?

The main topic is ECB President Christine Lagarde's rejection of a proposal to include bitcoin in central bank reserves.

Why did Lagarde reject the proposal?

Lagarde reaffirmed that cryptocurrencies have no place in European central banking due to their volatility and lack of security.

What are other countries' stances on bitcoin reserves?

Poland and Romania also avoid cryptocurrency investments, and the U.S. Federal Reserve is not allowed to own bitcoin.

Editorial & Advertiser disclosure

Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Home > Finance > ECB's Lagarde slaps down Czech proposal for bitcoin reserves

Finance

ECB's Lagarde slaps down Czech proposal for bitcoin reserves

Published by Global Banking & Finance Review®

Posted on January 30, 2025

2 min read

Last updated: January 26, 2026

ECB President Christine Lagarde addressing Bitcoin reserves proposal - Global Banking & Finance Review — ECB President Christine Lagarde firmly dismisses the Czech proposal to include Bitcoin in central bank reserves, emphasizing the need for secure financial assets. The image captures her during a press conference addressing this significant financial topic.

ECB President Rejects Bitcoin Proposal for Central Bank Reserves

FRANKFURT (Reuters) - European Central Bank President Christine Lagarde slapped down on Thursday a suggestion by her Czech colleague Ales Michl to include bitcoin among his country's official reserves.

While the Czech Republic does not use the euro, it is part of the European Union and therefore its central bank sits on the ECB's General Council, which is chaired by Lagarde and advises member states on financial policy.

Asked about including bitcoin in reserves, Lagarde - who said she had spoken to Michl - reaffirmed there was no place for the cryptocurrency in European central banking.

"I am confident that ... bitcoins won't enter the reserves of any of the central banks of the General Council," she told a press conference following the ECB's interest rate decision.

Michl's comments on Wednesday made waves in the financial community because central banks have steered well clear of cryptocurrencies, which were originally envisaged as an alternative to the official monetary system.

Lagarde said she had a "good conversation" with Michl after his comments and that he agreed that central bank reserves should be "liquid, secure and safe".

Bitcoin has rocketed in value over the last few years but it remains volatile and concentrated in the hands of relatively few holders.

The Czech National Bank said on Thursday its board had approved conducting an analysis to look at broadening its reserves portfolio to include other asset classes, without mentioning bitcoin.

Poland's central bank said on Thursday it was not considering investing in cryptocurrencies, "an asset class with very high risk". The Romanian central bank has also said it has no plans to include crypto in any way.

Federal Reserve chair Jerome Powell said last month that the U.S. central bank was not allowed to own bitcoin.

But U.S. President Donald Trump has sketched out an ambitious crypto strategy including a possible national cryptocurrency stockpile and support for globally available stablecoins pegged to the U.S. dollar.

(Reporting By Francesco Canepa; Editing by Catherine Evans)

ECB's Lagarde slaps down Czech proposal for bitcoin reserves

Quick Summary

ECB President Rejects Bitcoin Proposal for Central Bank Reserves

Key Takeaways

Frequently Asked Questions about ECB's Lagarde slaps down Czech proposal for bitcoin reserves