In a recent Q&A session, Phillip R. Lane, Chief Economist of the European Central Bank, was quoted as saying that “Bitcoin is not a currency.”
The European Central Bank (ECB) is not ready to add Bitcoin to its reserves, according to a recent answer given on its forum. On Twitter, one user posed the question to which the ECB executive board member Philip R. Lane responded to unequivocally with “No. Bitcoin is not a currency, it rather is an asset and it is very volatile.”
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The response was mocked by commentators online, garnering hundreds of replies. Many users were quick to point out that the Euro has depreciated significantly in the past two decades.
Lane’s comments should put to rest any speculation that the ECB is looking to add Bitcoin to its currency reserves. However, this isn’t to say it won’t do so in the future, if or when the price of Bitcoin ever stabilizes. Read More at BeInCrypto...