A ECB Advisor Destroys Bitcoin In One Sentence

An advisor of the European Central Bank (ECB), Jürgen Schaaf, recently reaffirmed the critical position of the institution regarding bitcoin, stating that there is “no real economic necessity” for this cryptocurrency. According to Schaaf, unlike the strategic reserves of raw materials such as oil or gas, BTC does not present any real economic utility or relevant use.

The ECB Drops a Bombshell on Bitcoin

Jürgen Schaaf recently warned against the idea of including bitcoin in the ECB’s reserves, stating that this would not stabilize the single currency, but would rather fuel speculation and wealth redistribution. He emphasized that BTC is an unsuitable asset for central banks due to its extreme volatility, its illicit use, and its susceptibility to manipulation.

This statement echoes the words of ECB President Christine Lagarde, who expressed her confidence last January that bitcoin would not be included in the reserves of European central banks. Lagarde pointed out that the reserves of central banks must be “liquid, safe and reliable,” criteria that BTC does not meet due to its volatility and lack of intrinsic value.

Will the Winds Soon Change?

Despite these positions, some European banking officials are taking a different approach. Aleš Michl, Governor of the Czech National Bank, recently suggested that bitcoin should be studied rather than feared, believing its unique technology deserves special attention. However, this perspective remains in the minority within European financial institutions.

Furthermore, countries like the United States are exploring the possibility of creating strategic reserves of bitcoin. In January 2025, U.S. President Donald Trump set up a task force to study the creation of a national stock of cryptocurrencies, reflecting a more open approach toward BTC.

Although bitcoin continues to generate interest and debate worldwide, the ECB maintains its skeptical position, highlighting the risks associated with its integration into central bank reserves and the lack of real economic necessity.