“Central banks are out of the question to buy Bitcoin”

The head of the European Central Bank (ECB) thinks central banks around the world will not hold Bitcoin (BTC) anytime soon.

In a conference call with The Economist on Feb. 10, Christine Lagarde showed that she doesn’t want to take risks when it comes to decentralized cryptocurrencies.

“It’s out of the question”

Asked whether central banks would buy Bitcoins, Lagarde replied “It is unlikely, even out of the question.”

Lagarde has not taken seriously Bitcoin for a long time, which has been on the rise while constantly printing money to avoid economic troubles caused by the quarantine and shutdowns imposed by ECB states for more than a year.

On the other hand, Saifedean Ammous, author of the bestselling book “Bitcoin Standard,” said that the ECB was accidentally advertising Bitcoin he thinks he’s doing his best. The famous writer warned that consumers in the Euro zone could grapple with negative interest rates in a few years due to the ECB’s policies.

On the other hand, a board member of the ECB suggested that if the central bank creates a digital euro, it could punish non-spending people.

Fabio Panetta cited the possibility of emptying consumers’ bank accounts and directly using the issuer of the digital euro as a bank in case the euro zone experiences another financial crisis.

1-month chart of the ECB balance sheet. Source: TradingEconomics / ECB

On the other hand, Bitcoin users enjoy being able to save without dealing with negative interest rates.

“The ECB is really doing its best to advertise Bitcoin,” Ammous summarized.

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