Former German Minister Calls on ECB to Adopt Crypto as 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 example of US President-elect Donald Trump’s “extremely progressive” approach to the issue.
The European Central Bank should take cues from the “extremely progressive” incoming administration of President-elect Donald Trump by incorporating crypto assets into its reserves, according to Germany’s former finance minister Christian Lindner, who spoke with the dpa news agency this weekend.
Lindner commended cryptocurrencies like Bitcoin for their “significant” contributions to global prosperity, arguing that the opportunity to accumulate such reserves should not be overlooked. He noted Trump's pro-crypto stance as a model for Brussels and Berlin to emulate.
“The new Trump administration is pursuing an extremely progressive policy when it comes to crypto assets such as Bitcoin,” he remarked, asserting that the Federal Reserve is reportedly considering “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 stated at a press conference that his agency was “not allowed to own Bitcoin” and indicated that any potential changes would need to come from Congress. “We are not looking for a law change at the Fed,” Powell added.
Trump has previously asserted his intention to make the US the “crypto capital of the planet.” Having shifted his view from being a crypto skeptic, the president-elect has recently advocated for all Bitcoin to be mined in the United States. He has also used Bitcoin to purchase cheeseburgers and beer for supporters at a New York City bar.
His victory in the 2024 US presidential elections propelled Bitcoin’s price upward, allowing the cryptocurrency to exceed the much-anticipated $100,000 mark amid a rally driven by investor hopes for crypto-friendly policies from the Trump administration.
Lindner emphasized the need for “Germany and Europe [to] not allow themselves to fall behind again” regarding cryptocurrencies, calling on both the ECB and the German Central Bank to “examine whether crypto assets should also become part of the central banks' reserves.”
When asked by dpa whether investing in cryptocurrencies would entail significant risks, the former finance minister advised against “investing everything in them,” while still asserting that crypto assets supported by a “decentralized system” could help mitigate political risks tied to traditional currencies.
As of now, neither the ECB nor the Bundesbank has responded to Lindner’s suggestions.
Max Fischer contributed to this report for TROIB News
The European Central Bank should take cues from the “extremely progressive” incoming administration of President-elect Donald Trump by incorporating crypto assets into its reserves, according to Germany’s former finance minister Christian Lindner, who spoke with the dpa news agency this weekend.
Lindner commended cryptocurrencies like Bitcoin for their “significant” contributions to global prosperity, arguing that the opportunity to accumulate such reserves should not be overlooked. He noted Trump's pro-crypto stance as a model for Brussels and Berlin to emulate.
“The new Trump administration is pursuing an extremely progressive policy when it comes to crypto assets such as Bitcoin,” he remarked, asserting that the Federal Reserve is reportedly considering “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 stated at a press conference that his agency was “not allowed to own Bitcoin” and indicated that any potential changes would need to come from Congress. “We are not looking for a law change at the Fed,” Powell added.
Trump has previously asserted his intention to make the US the “crypto capital of the planet.” Having shifted his view from being a crypto skeptic, the president-elect has recently advocated for all Bitcoin to be mined in the United States. He has also used Bitcoin to purchase cheeseburgers and beer for supporters at a New York City bar.
His victory in the 2024 US presidential elections propelled Bitcoin’s price upward, allowing the cryptocurrency to exceed the much-anticipated $100,000 mark amid a rally driven by investor hopes for crypto-friendly policies from the Trump administration.
Lindner emphasized the need for “Germany and Europe [to] not allow themselves to fall behind again” regarding cryptocurrencies, calling on both the ECB and the German Central Bank to “examine whether crypto assets should also become part of the central banks' reserves.”
When asked by dpa whether investing in cryptocurrencies would entail significant risks, the former finance minister advised against “investing everything in them,” while still asserting that crypto assets supported by a “decentralized system” could help mitigate political risks tied to traditional currencies.
As of now, neither the ECB nor the Bundesbank has responded to Lindner’s suggestions.
Max Fischer contributed to this report for TROIB News
