European Central Bank (ECB) advisor Jürgen Schaaf believes that Bitcoin is not suitable for national state reserves. He shared this view in an interview with Cointelegraph.

According to Schaaf, the first cryptocurrency is an unreliable asset due to its high volatility, lack of real economic value, and susceptibility to manipulation.

“Bitcoin will not strengthen currency stability but will only fuel speculation and wealth redistribution,” he stated.

The advisor argued that strategic reserves, such as raw materials or energy resources, provide tangible economic benefits, whereas cryptocurrencies do not offer similar advantages.

Schaaf also dismissed the idea that central banks could add other digital assets to their reserves. He emphasized that a diversified cryptocurrency portfolio would be an even riskier approach.

His statements come amid increased volatility in the crypto market. Recently, Bitcoin’s price briefly approached $86,000, while daily outflows from BTC ETFs exceeded $1 billion.

On February 22, the authorities of Montana, North Dakota, and Wyoming declined to support local bills aimed at establishing Bitcoin reserves.

Earlier, VanEck estimated that such initiatives could create additional demand for Bitcoin worth $23.5 billion.