The president of the European Central Bank (ECB) believes that central banks around the world will not want Bitcoin (BTC) anytime soon.
In a conference call with The Economist on February 10, Christine Lagarde made it clear that she is completely risk free when it comes to decentralized cryptocurrencies.
When asked about the central bank’s consumption of bitcoin, she replied: “This is very unlikely – I would say it is inappropriate.”
Lagarde has long mocked bitcoin, which rallied sharply at a time when the European Central Bank was squeezing large amounts of liquidity in an effort to consolidate its fiscal authority after a year of government deadlines.
However, the European Central Bank is “doing its best” to indiscriminately promote Bitcoin, says best-selling Bitcoin Standard author, Saifedan Ammous.
He pointed to another ECB event this week, which highlighted indications that consumers across the euro zone may face negative interest rates in the coming years.
Citing Bloomberg, the board member said that if an organization creates digital euros, it should charge people who refuse to use it.
The reason, Fabio Panetta claimed, is that if the eurozone encounters a new financial crisis, consumers can empty bank accounts and do business directly with the issuer of the digital euro.
“For example, during the crisis, it may be necessary to adjust the digital currency allowance, but this may indicate that the central bank expects economic tensions that will lead to self-instability,” he added.
To make them pay
To keep banks afloat, it is ironic that digital euro punishes those who try to avoid protecting their financial integrity.
According to Bloomberg, Panetta said that a 2% tax would not be sufficient to stem a mass exodus from the bank, and that the reward he is talking about would be “a huge punishment”.
Perhaps not surprisingly, his comments mocked Bitcoin supporters, who long ago seized the opportunity to save without paying for the privilege through negative interest rates.
“The European Central Bank is already doing its best to highlight and advertise Bitcoin’s value proposition,” Emmus concluded.
This is not the first time that a central bank has inadvertently announced the benefits of using a currency outside of its control.
Several officials have repeatedly revealed the attractiveness of the euro as an economic proposal, according to Cointelegraph reports.
It is assumed that there will be at least four years left before the transition to the digital euro, which is behind the experiments in China, which are already introducing the digital yuan.