News Highlights: Central banks are unlikely to hold bitcoin any time soon

  • ECB President Christine Lagarde said it was “very unlikely” that central banks would hold bitcoin anytime soon.
  • “I’d say it’s out of the question,” Lagarde said during a phone call organized by The Economist.
  • Most European countries will need incentives until 2021, she said.
  • Visit Insider’s Business section for more stories.

Christine Lagarde, president of the European Central Bank, said on Wednesday that she did not consider bitcoin a true currency, adding that central banks will not be holding it as a reserve currency anytime soon.

“It’s very unlikely – I would say it’s out of the question,” Lagarde said during a conference call hosted by The Economist.

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Wednesday’s comments were just the latest from Lagarde on bitcoin. In January, she called for more regulation of the cryptocurrency, saying that bitcoin has been used for some “funny thing,” including money laundering, as Reuters reported.

However, that doesn’t mean that there isn’t room for digital currencies in the future. She said the pandemic has spurred economies to faster digital adoption, and that a digital euro coin could be ready in about four years.

Read more: Tesla just invested $ 1.5 billion in bitcoin….

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