The latest statements of Christine Lagarde, President of the European Central Bank (ECB), about a strategic Bitcoin reserve, led to a wide range of criticism. Binance Founder Changpeng Zhao said that the European Union (EU) needed Bitcoin, and made an exit against Lagarde’s statement that the EU would never include Bitcoin in his reserve.
Binance founder’s support for Bitcoin created hope
Binance Founder and former CEO Changpeng Zhao said in a recent X sharing, “EU needs Bitcoin,” he said. This statement drew a lot of attention immediately after ECB President Christine Lagarde’s controversial decision on BTC reserve. The CZ’s words have aroused a great impact in the crypto currency world, and many people pointed out the importance of the European Union to include the crypto presence reserve.
Crypto supporters argue that Bitcoin is not a choice for the EU, especially referring to CZ’s statements. Emphasizing that the world’s traditional financial system is depreciated, Bitcoin is the future of finance, emphasizing experts, BTC stands out as the only entity that can replace the traditional system.
Why does EU need BTC?
Although ECB does not see Bitcoin as a safe asset, experts in the sector think that this asset will shape the future of finance. Donald Trump, former US president of the United States, announced that he plans to make his country a “Bitcoin superpower”. Experts supporting this situation, inflation increases and central banks in a world provides a unique control, the Fiat system is going to collapse, he says. In this turbulent period, it is stated that Bitcoin stands out as the only solution.
Crypto enthusiasts are harshly opposed Lagarde’s saying that Bitcoin is not safe. They argue that BTC has not been hacked so far and has the world’s safest computer code. It is emphasized that Bitcoin’s safe infrastructure is supported by its decentralized structure and advanced cryptography. These security measures show that Changpeng Zhao’s support for Bitcoin reflects not only the opinion of the entire crypto currency community.
Will ECB review its approach?
In the latest developments, ECB President Christine Lagarde reiterated that it was against the adoption of the BTC reserve. Lagarde said the EU would never take the crypto currency to diversify its national reserves. According to him, Bitcoin is inadequate in terms of liquidity, safety and safety standards. However, the cautious approach of ECB against the crypto currency is criticized by many. “ECB needs a new president who understands Bitcoin, Pier Pierre Rocard, Vice President of Riot Platforms Research in critical statements.
