German Ex-Finance Minister Advocates ECB to Include Bitcoin into Reserves
2024-12-30
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Former German finance minister Christian Lindner has advocated the European Central Bank (ECB) and the Bundesbank to add Bitcoin into their reserves.
Speaking to the in Berlin, Linder compared the new Trump administration’s push on cryptos, calling it “an extremely progressive policy.” He added that the US is looking to become a leading crypto hub.
“In Washington, there is even talk of the American central bank adding crypto assets to its reserves alongside currencies and gold.”
Linder’s remarks echo a European MP’s recent call for a Bitcoin Strategic Reserve for Europe. Early this month, the MP lauded El Salvador’s move to invest heavily in Bitcoin.
Christian Lindner, who heads Germany’s Free Democratic Party, emphasized the importance of Europe not relying on the US in the field of cryptos.
Further, He stressed that both the ECB and the Bundesbank are independent in making their decisions. “But Germany and Europe must not allow themselves to be left behind again,” Lindner added.
He also urged both entities to examine whether cryptos like Bitcoin should become part of the central banks’ reserves.
“Because crypto assets now account for a significant part of the global increase in prosperity,” he said, adding that the move could contribute to strengthening the resilience of reserves.
Lindner also addressed the risks of highly volatile cryptocurrencies. He said that these price fluctuations are well known and nobody would wisely invest everything in them.
However, as a decentralized system in which no one has sole power, political risks are calculable, he noted. “And there are also fluctuations in classic assets such as precious metals.”German Lawmaker Urged Government to Hold Bitcoin as Strategic Reserve Currency
Meanwhile, the German government has been continuously transferring Bitcoin holdings to various wallets this year.
In July, German lawmaker Joana Cotar urged the government to hold BTC “as a strategic reserve currency.” She criticized the selling spree as “not sensible and counterproductive.”
“Instead of selling, I recommend developing a comprehensive Bitcoin strategy,” she wrote in a letter to Linder early this year. “This could include keeping Bitcoin in the treasury, issuing Bitcoin bonds, or creating a conducive regulatory environment.”