The Daily: ECB President Lagarde rejects bitcoin for Eurozone reserves while the Czech central bank considers it and more
2025-01-31
Category: None

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Thursday! What a difference a day makes, with bitcoin prices rebounding following the Fed's decision to hold rates steady and Chair Powell's comments that banks are welcome to serve crypto customers.
In today's newsletter, ECB President Christine Lagarde rules out bitcoin reserves in the Eurozone while the Czech National Bank considers doing so. Plus, El Salvador passes a revised bitcoin law, Elon Musk-led Tesla reports a $600 million paper gain from its bitcoin holdings and more.
Meanwhile, the Norwegian sovereign wealth fund's indirect bitcoin exposure grows 153% to 3,821 BTC as its MicroStrategy holdings surpass $500 million.
Let's get started.
Christine Lagarde says no to bitcoin in Eurozone central bank reserves
European Central Bank President Christine Lagarde said bitcoin is not an option as a reserve asset for the Eurozone's central bank reserves, citing liquidity, security and regulatory concerns.
El Salvador passes revised bitcoin law
El Salvador has passed a revised bitcoin bill, complying with the IMF's $1.4 billion loan deal, according to Reuters.
Tesla reports $600 million in bitcoin paper gains
Elon Musk-led electric vehicle maker Tesla reported a $600 million paper gain on its bitcoin holdings as of Q4 2024 under new accounting rules that came into effect in December, allowing quarterly market valuation adjustments.
Ethereum community rallies behind Danny Ryan for EF leader
An informal vote among Ethereum supporters shows that 99% of 300 wallets that collectively hold over 50,000 ETH ($160 million) are backing Danny Ryan to become the next Ethereum Foundation leader.
Trump and Melania memecoins make real-world payment push
Official Trump and Melania memecoins are now accepted for payments on Trump-branded fragrance and sneaker websites through a Solana Pay integration, which also supports dozens of other Solana-based tokens.
In the next 24 hours
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