Summary
The European Central Bank (ECB) is unlikely to ever buy Bitcoin, according to ECB executive board member Isabel Schnabel. The ECB, responsible for controlling monetary conditions in European Union countries that use the euro, is exploring a central bank digital currency (CBDC) but has been slow to embrace Bitcoin. Schnabel’s statement drew criticism from Bitcoin enthusiasts online.
Key Points
1. The European Central Bank (ECB) has stated that it is highly unlikely to ever buy Bitcoin for its balance sheet, according to ECB executive board member Isabel Schnabel.
2. Schnabel’s statement comes as part of a Q&A session where she discussed the ECB’s stance on acquiring the flagship cryptocurrency.
3. The ECB, like other central banks, has been exploring the concept of a central bank digital currency (CBDC), but has been slow to embrace Bitcoin, which some see as a digital equivalent to gold.