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Investing.com -- Lucien Bourdon, a Bitcoin Analyst at Trezor, has expressed his thoughts on the European Central Bank’s (ECB) decision to reject a proposal from the Czech Republic to include Bitcoin in bank reserves. Christine Lagarde, the ECB’s head, stated that Bitcoin is not suitable for reserves due to the need for assets to be ’liquid, secure, and safe.’
In response, Bourdon questioned the ECB’s rationale, highlighting the transparency of Bitcoin transactions compared to traditional banking systems. He argued that if the potential for money laundering and financial crime were criteria for excluding an asset from central bank reserves, then the euro should also be scrutinized given the history of traditional banks.
Bourdon also challenged Lagarde’s assertion that Bitcoin is not a ’liquid, secure, and safe’ asset. He noted that Bitcoin trades 24/7 without needing a counterparty, making it one of the most liquid assets in the world. In comparison, the euro is a complex system of pegged currencies that has required constant intervention to maintain its stability.
The Bitcoin analyst further criticized the ECB’s claim that Bitcoin is too unstable for reserves. He pointed out that central banks have devalued their own currencies through continuous stimulus, bailouts, and rate manipulation. Bourdon suggested that the main issue is not stability but control, as Bitcoin represents a monetary system that central banks cannot print, which could be the real reason behind their apprehension.
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