Do you think the Bitcoin Reserve would be accepted by the EU?

[legend45]

The European Union will never adopt a Bitcoin reserve because they have crypto-phobia. They regulate too much and it hurts new innovation and disrupters, while helping the incumbents and the big guys.

In between the United States and EU, there is no question that right now EU is less friendly to the whole idea of cryptocurrency and surely there is a less chance that a Bitcoin Reserve concept will find conceivable and feasible support from the people in power. Seems to me that the core principle of Bitcoin and cryptocurrency is going against the very mindset of many elite and ruling class in Europe. Though let's not close this thing over as we don't know the future who knows someone like Trump will come into power and make the changes necessary for cryptocurrency to further grow and be accepted by the government and the people.

There are always differences in the thought of developed countries, as we see today Trump is very supportive of Bitcoin. But if the EU has not been attached to Bitcoin and Crypto, maybe they have their own considerations. We as Crypto lover can only practice and use if there is a positive market trend that makes us able to make profits, but I have the majority of the country's confidence in supporting Bitcoin in the future.

[rby]

In 2013, the US government introduced some policies and regulations that limited the use of Bitcoin as it was then labelled as "tool for criminals". Fast-forward to 12 years later, they same government have not just made new policies that encourages Bitcoin but have also invested in it through the Bitcoin Reserve. If the most powerful government in the world can adopt Bitcoin after initially kicking against it, you should draw your conclusions from there to know that Bitcoin in the future will be too global for EU not to adopt it. Personally, I feel it's just a matter of time for EU and other powerful governmental bodies to adopt Bitcoin.

[densus88]

In 2013, the US government introduced some policies and regulations that limited the use of Bitcoin as it was then labelled as "tool for criminals". Fast-forward to 12 years later, they same government have not just made new policies that encourages Bitcoin but have also invested in it through the Bitcoin Reserve. If the most powerful government in the world can adopt Bitcoin after initially kicking against it, you should draw your conclusions from there to know that Bitcoin in the future will be too global for EU not to adopt it. Personally, I feel it's just a matter of time for EU and other powerful governmental bodies to adopt Bitcoin.

I think in the future, countries that used to ban bitcoin will accept and adopt bitcoin. As you said, the US used to be against bitcoin and now the US government has made bitcoin a strategic reserve fund. And I think other countries will follow what the US government is doing soon.

[Aanuoluwatofunmi]

EU is not going to take it hard on bitcoin from the way i see it, if we can have China and US consider the use of bitcoin for reserve, then there is nothing impossible with EU, we should all try to make sure that we continue with the support given to bitcoin towards increasing adoption till it becomes an irresistible digital currency at every nooks and crannies of the world, very soon now, we are going to have an harmonized use of bitcoin globally.

[Asiska02]

It is obvious that most countries stoop, watching the possible benefits of this move to the nations economy while others are already getting motivated on joining the trend.

In relation with the European Union regarding this establishment, I saw a news post expressing that this move of a Bitcoin Strategic Reserve and the US support for dollar-backed stable coin could harm the EU financial stability. The phobia of the European Currency declining is now a major factor subjecting them.

Do you feel they would probably overcome this challenge and embrace the current trend?

This may just be coming to them as something they can’t handle but I feel with time, and the potentials that bitcoin reserve will have and dominate in the world on countries that adopt it, the European Union will look for a way to integrate it into the system and see themselves embracing it and also getting to explore from the benefits of having one.

This may look impromptu to them as they’re yet to find a way to make the financial stability of the EU as a top priority in anything they do or wish to embrace. This is going to be a long time process and probably we see more countries emulating and embracing it as the widespread adoption continues to the effect after Trump stance on Bitcoin was made public.

[Legion]

This may just be coming to them as something they can’t handle but I feel with time, and the potentials that bitcoin reserve will have and dominate in the world on countries that adopt it, the European Union will look for a way to integrate it into the system and see themselves embracing it and also getting to explore from the benefits of having one.

This may look impromptu to them as they’re yet to find a way to make the financial stability of the EU as a top priority in anything they do or wish to embrace. This is going to be a long time process and probably we see more countries emulating and embracing it as the widespread adoption continues to the effect after Trump stance on Bitcoin was made public.

As much as people who suggest the same believe the EU is lagging since it hasn’t come out to fully support Bitcoin, I do not think this would do well. It is not just like the Youth in their endeavour to emulate what is happening around the world. And yet that is not entirely so, they are not completely shutting down. So, you can notice that many of the financial institutions in Europe are beginning to start small pilot projects to probe the environment cautiously without having to commit themselves fully. Perhaps they are still waiting for the right moment to come in, and not because of fear, but due to anticipation to the readiness signal of the other members. It happens that the calm signal before the storm cools all the sails that not all can observe.

[PX-Z]

No, it's not currently possible unless it's led by a president with the political will to pursue it, unlike in the US, where a president like Trump could make such decisions more directly. The EU is a union of multiple countries, so adopting a Bitcoin reserve proposal would require at least a majority vote, followed by formal discussions in a session. While it might be possible in the future, it's not feasible at the moment