On several platforms is currently the message that European banks could soon hold Bitcoin. This is due to statements by ECB President Mario Draghi. He only referred to BTC futures. A fine but important difference.
The headline that is currently doing the round refers to the following quote:
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“Recent developments, such as the introductions of Bitcoin futures to the US stock exchanges, indicate that European banks may soon hold positions in Bitcoin. That’s why we’ll take a closer look. “
As the quote makes clear, the chairman of the European Central Bank speaks only of indirect shares in Bitcoin. Looking at Draghi’s comments, it becomes clear that Draghi has no interest or interest in banks to hold Bitcoin.
“In fact, credit institutions of the European Union have little interest in cryptocurrencies, in contrast to the high interest of the public […]. We should note that Bitcoin and other cryptocurrencies are located in unregulated space and should be considered as very dangerous asset classes […]. At the moment, cryptocurrencies are not part of a specific regulatory approach. “
Whether the interest of credit institutions in cryptocurrencies is actually low, is an open question. However, it is important that Draghi highlights the unresolved legal situation of the cryptocurrencies.
ECB President Mario Draghi refers only to futures
However, this is different with bitcoin futures or futures contracts. As already reported, Bitcoin futures are an instrument that can benefit from price fluctuations. You do not have to own the cryptocurrency yourself. Instead, one speculates on a specific price development and ultimately bets on future prices.
Mario Draghi’s statement thus refers to shares in Bitcoin, not to the crypto currency itself.
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