Christian Lindner cited President-elect Donald Trump’s purportedly “extremely progressive” approach to cryptocurrencies as an example.
Germany’s former finance minister, Christian Lindner, advocated for the European Central Bank (ECB) to adopt crypto assets as reserves, mirroring what he described as President-elect Donald Trump’s “extremely progressive” approach. He told the dpa news agency that cryptocurrencies like Bitcoin have significantly contributed to global economic growth, making their inclusion in central bank reserves a worthwhile opportunity. Lindner highlighted Trump’s pro-crypto stance as a model for Brussels and Berlin.
He asserted that the incoming Trump administration is pursuing an extremely progressive policy regarding crypto assets like Bitcoin, alleging the Federal Reserve is considering adding them to its reserves alongside currencies and gold. Lindner did not provide sources for this claim.
Two weeks prior, Federal Reserve Chair Jerome Powell stated at a press conference that the agency is legally prohibited from owning Bitcoin and that any potential change would require Congressional action. Powell added that the Fed is not seeking legislative changes in this area.
Trump has previously declared his intention to make the US the “crypto capital of the planet.” Having once been a crypto skeptic, he has revised his position, recently advocating for all Bitcoin mining to occur within the US. He also reportedly used Bitcoin to purchase cheeseburgers and beer for supporters at a New York City bar.
Following Trump’s 2024 election win, Bitcoin’s price surged past $100,000, driven by investor optimism regarding the incoming administration’s crypto-friendly policies.
Lindner stressed the importance of Germany and Europe avoiding falling behind in the cryptocurrency space, urging the ECB and the German Central Bank (Bundesbank) to assess the potential inclusion of crypto assets in their reserves.
When questioned by dpa about the risks of crypto investment, Lindner advised against all-in investments but maintained that crypto assets, supported by decentralized systems, could help mitigate political risks associated with traditional currencies.
Neither the ECB nor the Bundesbank has yet responded to Lindner’s suggestions.