Ex-German minister suggests ECB include crypto in reserves
Former German Finance Minister Christian Lindner has called on the ECB to incorporate cryptocurrency into its reserves to prevent “falling behind” the US. Read Full Article at RT.com.
TroibNews 
Christian Lindner has pointed to an example of US President-elect Donald Trump’s “extremely progressive” approach to the issue.
The European Central Bank should align itself with the “extremely progressive” incoming administration of President-elect Donald Trump by incorporating crypto assets into its reserves, according to former German finance minister Christian Lindner, who spoke to the dpa news agency.
Lindner praised cryptocurrencies such as Bitcoin for their “significant” contribution to the rise in global prosperity, arguing that accumulating such reserves presents a valuable opportunity. He also highlighted Trump’s favorable stance on crypto as a model for both Brussels and Berlin to consider.
“The new Trump administration is pursuing an extremely progressive policy when it comes to crypto assets such as Bitcoin,” he stated, suggesting that the Federal Reserve is allegedly contemplating “adding crypto assets to its reserves alongside currencies and gold.” However, Lindner did not cite any sources for this claim.
Two weeks prior, Federal Reserve Chair Jerome Powell indicated during a press conference that his agency was “not allowed to own Bitcoin.” He clarified that any such decision would rest with the US Congress, adding, “We are not looking for a law change at the Fed.”
Trump has previously expressed his intention to make the US the “crypto capital of the planet.” Once skeptical of cryptocurrencies, the president-elect has shifted his viewpoint, advocating that all Bitcoin mining should occur within the US. He even used Bitcoin to purchase cheeseburgers and beer for supporters at a bar in New York City.
His success in the 2024 US presidential elections triggered a surge in Bitcoin's price, pushing the cryptocurrency past the anticipated $100,000 mark amid a rally fueled by expectations of crypto-friendly policies from the forthcoming Trump administration.
Lindner emphasized that “Germany and Europe must not allow themselves to fall behind again” in the realm of cryptocurrencies, and called for both the ECB and the German Central Bank to “examine whether crypto assets should also become part of the central banks' reserves.”
When dpa inquired whether investing in cryptocurrencies might be risky, the former finance minister advised against “investing everything in them,” yet maintained that crypto assets backed by a “decentralized system” could reduce political risks linked to traditional currencies.
As of now, neither the ECB nor the Bundesbank has responded to Lindner’s suggestions.
Anna Muller contributed to this report for TROIB News
The European Central Bank should align itself with the “extremely progressive” incoming administration of President-elect Donald Trump by incorporating crypto assets into its reserves, according to former German finance minister Christian Lindner, who spoke to the dpa news agency.
Lindner praised cryptocurrencies such as Bitcoin for their “significant” contribution to the rise in global prosperity, arguing that accumulating such reserves presents a valuable opportunity. He also highlighted Trump’s favorable stance on crypto as a model for both Brussels and Berlin to consider.
“The new Trump administration is pursuing an extremely progressive policy when it comes to crypto assets such as Bitcoin,” he stated, suggesting that the Federal Reserve is allegedly contemplating “adding crypto assets to its reserves alongside currencies and gold.” However, Lindner did not cite any sources for this claim.
Two weeks prior, Federal Reserve Chair Jerome Powell indicated during a press conference that his agency was “not allowed to own Bitcoin.” He clarified that any such decision would rest with the US Congress, adding, “We are not looking for a law change at the Fed.”
Trump has previously expressed his intention to make the US the “crypto capital of the planet.” Once skeptical of cryptocurrencies, the president-elect has shifted his viewpoint, advocating that all Bitcoin mining should occur within the US. He even used Bitcoin to purchase cheeseburgers and beer for supporters at a bar in New York City.
His success in the 2024 US presidential elections triggered a surge in Bitcoin's price, pushing the cryptocurrency past the anticipated $100,000 mark amid a rally fueled by expectations of crypto-friendly policies from the forthcoming Trump administration.
Lindner emphasized that “Germany and Europe must not allow themselves to fall behind again” in the realm of cryptocurrencies, and called for both the ECB and the German Central Bank to “examine whether crypto assets should also become part of the central banks' reserves.”
When dpa inquired whether investing in cryptocurrencies might be risky, the former finance minister advised against “investing everything in them,” yet maintained that crypto assets backed by a “decentralized system” could reduce political risks linked to traditional currencies.
As of now, neither the ECB nor the Bundesbank has responded to Lindner’s suggestions.
Anna Muller contributed to this report for TROIB News
