BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BUSINESS

European Central Bank Will Not Hold Bitcoin and Here is Why

by BlockNews.com Team
January 10, 2024
in BUSINESS, CRYPTO, FINANCE
Reading Time: 3 mins read
A A
1
SHARES
16
VIEWS
Share on XShare in TelegramShare on Reddit
  • The European Central Bank is tasked with controlling monetary policy for euro countries and is unlikely to ever buy bitcoin according to ECB board member Isabel Schnabel.
  • The ECB controls policy for euro countries, similar to how the Federal Reserve does for the US. Schnabel was nominated by Germany to the ECB’s executive board in 2019.
  • Schnabel said the ECB is very unlikely to ever buy bitcoin, even as some call it “digital gold.” The ECB is more interested in a central bank digital currency instead of crypto.

The European Central Bank is tasked with controlling monetary policy for countries using the euro. ECB board member Isabel Schnabel said the bank is very unlikely to ever purchase bitcoin. This comes even as a spot bitcoin ETF nears approval in the US, which would expose more traditional investors to the cryptocurrency.

JUST IN: 🇪🇺 European Central Bank (@ecb) will not hold #Bitcoin since it’s a “speculative” asset pic.twitter.com/cHmiAhaslO

— BlockNews.com (@blocknewsdotcom) January 10, 2024

Background on the European Central Bank

The ECB controls monetary policy for the bloc of European Union countries that use the euro currency. It is the European equivalent of the US Federal Reserve, led by Jerome Powell.

The ECB has a six-person executive board responsible for implementing policy. Isabel Schnabel was nominated by Germany in 2019 to serve on the board.

Schnabel is known for hawkish views on interest rates, though she recently reversed course. She joins other ECB leaders in calling for tighter crypto regulation.

Central Bank Views on Bitcoin

In a Wednesday Q&A, Schnabel said the ECB is very unlikely to ever buy bitcoin. This despite central banks like the ECB holding gold reserves.

Bitcoin fans often call the cryptocurrency “digital gold.” But so far central banks have been slow to warm to bitcoin and crypto as reserve assets.

The ECB is exploring a central bank digital currency (CBDC) instead. But crypto advocates tend to dislike CBDCs, which are regulated by central banks.

Schnabel’s comments got backlash from Bitcoin supporters online. But the ECB appears firmly opposed to crypto holdings for now.

Tags: BitcoincryptoECBFEDIsabel Schbabel
TweetShareShare
Previous Post

Spot Bitcoin ETFs Approved for Listing by CBOE, Pending SEC Approval

Next Post

Jokester Pokes Fun at SEC Gary Gensler Post Fake Spot Bitcoin ETF Approval

DON'T MISS THESE! HOT OFF THE PRESS

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling
CRYPTO

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?
CRYPTO

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak
CRYPTO

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party
CRYPTO

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?
BITCOIN

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL
BITCOIN

Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

July 1, 2025
Load More

Related News

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.