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Lagarde rules out EU bitcoin reserves as Czech Republic explores idea

European Central Bank (ECB) President Christine Lagarde does not expect any EU country to adopt bitcoin reserves, reflecting strong skepticism about the role of cryptocurrencies in central bank reserves.

Her comments came in response to Czech National Bank (CNB) Governor Aleš Michal, who recently received approval from the CNB board to explore alternative assets for the country’s reserves.

Lagarde’s skepticism may not sit well with some EU countries

Michal has publicly discussed the possibility of allocating up to 5% of the Czech Republic’s reserves to bitcoin. However, the proposal has drawn mixed reactions from officials.