Bitcoin, Fiat & Rock'n'Roll

We discuss the potential drawbacks of Bitcoin Reserves with European Central Bank advisor Jürgen Schaaf Strategic Bitcoin Reserves remain one of the most intensely debated topics in the digital currency landscape. Just a few days back, US President Trump has signed an Executive Order that states the establishment of both a Bitcoin Reserve and a broader Digital Asset Stockpile in the US. In this new episode of the Bitcoin, Fiat & Rock’n’Roll (BFRR) podcast, host Jonas Gross explores the topic of Bitcoin Reserves with Dr. Jürgen Schaaf, advisor to the Senior Management at the European Central Bank (ECB). Following a previous episode that examined the pro-Bitcoin Reserve perspective, this conversation dives deep into the counterarguments. Dr. Schaaf points to Bitcoin's fundamental limitations. He argues that Bitcoin mainly failed to deliver on its original promise as a payment system, points to its extreme volatility as a barrier to mainstream adoption and questions its utility. The discussion distinguishes between three distinct reserve models that are often conflated in public discourse: strategic reserves, foreign exchange reserves, and sovereign wealth funds. Dr. Schaaf provides an analysis of whether from his perspective any of these three frameworks presents a legitimate economic case for institutions holding Bitcoin —with conclusions that may surprise listeners. After two comprehensive episodes on Bitcoin reserves—examining both the supportive and critical viewpoints—stay tuned for an upcoming episode where the BFRR team will thoughtfully reflect on these discussions and share their own perspective on this both controversial and timely topic. Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+EtgT5rIPbdYwYmJk] x Profile Jürgen Schaaf [https://x.com/schaaf_jurgen] LinkedIn Profile Jonas Gross [https://www.linkedin.com/in/grossjonas/] Previous episode with Frank Schäffler on Bitcoin Reserves [https://bfrr.info/2025/02/09/why-the-fdp-demands-a-bitcoin-reserve-german/] Paper Schaaf & Bindseil: The distributional consequences of Bitcoin [https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4985877] Article FAZ by Jürgen Schaaf and Ulrich Bindseil: Was Gegen eine strategische Bitcoin-Reserve spricht [https://www.faz.net/aktuell/finanzen/finanzmarkt/das-spricht-gegen-den-staatlichen-aufbau-von-strategischen-reserven-in-bitcoin-110230436.html] [BFRR Episode: ](Bitcoin-Papier der EZB: Zerstört Bitcoin die Demokratie](https://www.bfrr.de/bitcoin-kritik-in-paper-der-ezb/ [https://www.bfrr.de/bitcoin-kritik-in-paper-der-ezb/]) ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Digital Euro Conference Partnership: BFRR partners with the Digital Euro Conference 2025 taking place on March 27 in Frankfurt. DEC25 brings together leading voices shaping the financial landscape, covering topics around retail and wholesale CBDCs, stablecoins, and tokenized money in general. As an official event partner, BFRR gives away one free ticket for physical participation in Frankfurt. If you are interested, please write us an email to info@bfrr.de [info@bfrr.de] by January 31st. If you are not the “lucky winner”, you get 20% off the ticket prices with the code “BFRR20”. To buy your ticket go to the official website Click here [http://digital-euro-conference.de] and insert the code “BFRR20”. Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

Let’s dive into the most important news in February In this episode all four co-hosts, Alexander, Michael, Jonas and Manuel discuss the most relevant news of February: The negative crypto market sentiment, market cap and ETF AuM contractions and the reasons for that – among others the Bybit Hack Presidential Meme-Coins. On Feb 21, one of the largest Crypto-Exchanges was hacked and a north-korean hacking group stole 1,4 bln USD worth of cryptocurrencies. The co-authors explain what happened and discuss how the attack and the biggest hack in history could have been prevented. The Episode goes on to analyze and discuss the players and the mechanisms behind the issuance and price collapse of the Libra token that was supported by the Argentinian president Javier Milei and the interlinkage to the Melania Token. After the bearish news, the record 2024 earnings of Tether and Coinbase are analyzed which reflect the positive crypto sentiment and market activity of last year – in particular in Q4. The last section is devoted to European developments with an update on European MiCAR licenses for Stablecoins and crypto asset service providers as well as recent developments in the European projects on central bank digital currencies (CBDC). The ECB sees threats from USD denominated Stablecoins and wants to accelerate the digital Euro project as a respondes and on the other side wants to provide a solution in 2025 to connect Target services – existing settlement infrastructure – to newly emerging blockchain networks. If you find these topics interesting, make sure you listen to this months news-episode of BFRR! Nuggets of the months of each co-host: • Manuel: Bindseil, Ulrich and Malekan, Omid, 2025, Public crypto networks as financial market infrastructures [https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5138052] • Alexander: Post from Ivica Aracic on Blockchain/Ledger catogarization [https://www.linkedin.com/posts/ivicaa_how-about-categorizing-blockchainsledgers-activity-7300045162498441216-mQDA/] • Jonas: ECB Working Paper: Digital money and finance: a critical review of terminology [https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp3022~67ea842a2a.en.pdf?bb553e483019c8f398888cc1afc7de2e] • Michael: Video from Google: Majorana 1 Explained: The Path to a Million Qubits [https://www.youtube.com/watch?v=wSHmygPQukQ] Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+jA3nMkERPtc5YjQ0] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Digital Euro Conference Partnership: BFRR partners with the Digital Euro Conference 2025 taking place on March 27 in Frankfurt. DEC25 brings together leading voices shaping the financial landscape, covering topics around retail and wholesale CBDCs, stablecoins, and tokenized money in general. As an official event partner, BFRR gives away one free ticket for physical participation in Frankfurt. If you are interested, please write us an email to info@bfrr.de [info@bfrr.de] by January 31st. If you are not the “lucky winner”, you get 20% off the ticket prices with the code “BFRR20”. To buy your ticket go to the official website Click here [http://digital-euro-conference.de] and insert the code “BFRR20”. Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

Live Panel from the Frankfurt Digital Finance Conference 2025 In this episode, we present a panel discussion that took place at this year’s Frankfurt Digital Finance Conference. The BFRR co-host Stefan Grasmann and his expert panel featuring leaders from flatexDEGIRO, Bitpanda, Crypto Finance, and Union Investment engage in a discussion about business opportunities in the crypto space in 2025, focusing on trading, tokenization, and the role of stablecoins. The panelists share insights into how their companies are navigating the landscape, from building retail and institutional adoption to creating new financial products like tokenized bonds and blockchain-based funds. You'll hear about the challenges of regulatory frameworks like the Markets in Crypto Assets Regulation (MiCAR), the need for standardization in tokenized assets, and the competitive pressure from the U.S. as it ramps up its crypto initiatives. From the potential of crypto-native assets to the broader implications of blockchain technology on financial markets, the panel discussion unpacks what’s next for the digital asset space. Whether you’re a retail investor, an institutional player, or simply curious about the future of finance, this conversation offers fresh perspectives. Listen in for a forward-looking discussion that sheds light on the future of trading, tokenization, and blockchain innovation. Don’t miss this opportunity to stay ahead of the curve and make sure to enjoy the episode! Frankfurt Digital Finance Conference [https://frankfurt-digital-finance.de/] Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+jA3nMkERPtc5YjQ0] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Digital Euro Conference Partnership: BFRR partners with the Digital Euro Conference 2025 taking place on March 27 in Frankfurt. DEC25 brings together leading voices shaping the financial landscape, covering topics around retail and wholesale CBDCs, stablecoins, and tokenized money in general. As an official event partner, BFRR gives away one free ticket for physical participation in Frankfurt. If you are interested, please write us an email to info@bfrr.de [info@bfrr.de] by January 31st. If you are not the “lucky winner”, you get 20% off the ticket prices with the code “BFRR20”. To buy your ticket go to the official website Click here [http://digital-euro-conference.de] and insert the code “BFRR20”. Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

Will Quantum Computers Break Bitcoin? A Deep Dive into Crypto’s Biggest Security Challenge Quantum computing is no longer a distant prospect; it’s a reality. In this episode, co-host Michael Blaschke explores two significant developments that are impacting the relationship between quantum computing and blockchain: Google’s 105-qubit Willow chip and Ethereum’s proactive initiative for quantum resistance, known as "The Splurge." Based on insights from his recent study at the FERI Cognitive Finance Institute, titled "Quantenzeitalter: Quantencomputing als Gamechanger für Finanz- und Realwirtschaft," Michael discusses the implications of quantum computing for both traditional finance and the cryptocurrency sector. The episode simplifies complex quantum concepts, highlighting how quantum computing poses both challenges and opportunities for traditional finance and crypto. Key topics include: * Understanding Google’s Willow chip and its breakthrough capabilities * The fundamental differences between quantum and classical computing * How quantum computers could theoretically break current cryptographic systems * Bitcoin’s existing defense mechanisms against quantum threats * The crypto community’s response and preparation strategies * Vitalik Buterin’s vision for a quantum-resistant Ethereum * Practical implications for investors, institutions, and developers Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+jA3nMkERPtc5YjQ0] FERI press release “Quantum computing: game changer for a new information age” [https://www.feri.ch/en/ag/newsroom/2411270843] Michael’s analysis “Quantenzeitalter: Quantencomputing als Gamechanger für Finanz- und Realwirtschaft” published by FERI as a Cognitive Comment in German [https://www.feri.ch/media/dcnnrfw4/202411_quantencomputer_cc.pdf] Recent post by Vitalik Buterin: “Possible futures of the Ethereum protocol, part 6: The Splurge" [https://vitalik.eth.limo/general/2024/10/29/futures6.html] Google press release “Meet Willow, our state-of-the-art quantum chip” [https://blog.google/technology/research/google-willow-quantum-chip/] Research paper “Quantum Attacks on Bitcoin, and How to Protect Against Them” [https://ledgerjournal.org/ojs/index.php/ledger/article/view/127] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Digital Euro Conference Partnership: BFRR partners with the Digital Euro Conference 2025 taking place on March 27 in Frankfurt. DEC25 brings together leading voices shaping the financial landscape, covering topics around retail and wholesale CBDCs, stablecoins, and tokenized money in general. As an official event partner, BFRR gives away one free ticket for physical participation in Frankfurt. If you are interested, please write us an email to info@bfrr.de [info@bfrr.de] by January 31st. If you are not the “lucky winner”, you get 20% off the ticket prices with the code “BFRR20”. To buy your ticket go to the official website Click here [http://digital-euro-conference.de] and insert the code “BFRR20”. Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!

We explore why the FDP has included the Bitcoin reserve initiative in their election program The concept of a "strategic Bitcoin reserve" is gaining increasing international significance. What Donald Trump brought up in the US election campaign is now being seriously considered by a growing number of nations - including Brazil, Japan, Russia, and China alongside the US. The Czech Central Bank recently marked a milestone by becoming the first of its kind to officially announce plans to evaluate Bitcoin investments. Against this backdrop, the new episode of Bitcoin, Fiat & Rock'n'Roll focuses on whether and how nations and central banks should use Bitcoin as a strategic reserve - a topic now also taken up by the FDP in the current German federal election campaign. Co-hosts Jonas Gross and Michael Blaschke discuss this with FDP member of parliament Frank Schäffler, who champions Bitcoin, crypto, and digital asset topics in the Bundestag like few others. How does the FDP envision a Bitcoin reserve? The specific proposal suggests that the German Bundesbank and the European Central Bank (ECB) should diversify their currency reserves through Bitcoin. The Bundesbank's current gold reserves of 140 billion euros serve as a reference point. Schäffler emphasizes that this is a political appeal, as central banks remain independent in their investment decisions. Implementation would occur through active, systematic new acquisitions. Should the German state also buy Bitcoin according to the FDP's vision? You'll find out in the episode. What are the challenges? Schäffler sees the biggest challenges in convincing the "establishment" and central banks. While ECB President Lagarde currently rejects Bitcoin investments, Schäffler considers it progress that the topic is being discussed at this level at all. He points to the positive developments of recent years: from the first tax recognition in 2013 to today's broad social acceptance of Bitcoin. What other challenges exist? You'll find out in the episode. Enjoy the Episode! Transcript in English [https://bfrr.info/wp-content/uploads/2025/02/bfrr.info-Why-the-FDP-demands-a-Bitcoin-Reserve-_-English.pdf] Transcript in German [https://bfrr.info/wp-content/uploads/2025/02/bfrr.info-Darum-fordert-die-FDP-eine-Bitcoin-Reserve-.pdf] LinkedIn Profile Frank Schäffler [https://www.linkedin.com/in/grossjonas/] Bitcoin, Fiat & Rock'n'Roll Website [https://www.bfrr.de/] Bitcoin, Fiat & Rock'n'Roll Telegram Channel [https://t.me/+EtgT5rIPbdYwYmJk] LinkedIn Profile Jonas Groß [https://www.linkedin.com/in/grossjonas/] LinkedIn Profile Michael Blaschke [https://www.linkedin.com/in/dr-michael-r-blaschke/] LinkedIn Profile Frank Schäffler [https://www.linkedin.com/in/frank-schäffler-ba0a541bb/] Previous episode with Frank Schäffler about Bitcoin ban in the EU [https://paymentandbanking.com/droht-ein-bitcoin-verbot-in-der-eu-interview-mit-frank-schaeffler/] Book „Entnationalisierung des Geldes“ – F.A. Hayek [https://www.eucken.de/publikation/entnationalisierung-des-geldes-schriften-zur-waehrungspolitik-und-waehrungsordnung/] Book „Broken Money“ – Lyn Alden [https://www.amazon.de/Broken-Money-Financial-System-Failing/dp/B0CG8985FR] ---------------------------------------- Relai*: Buy Bitcoin with Relai – you can do a one-time purchase or savings plan: Click here [https://relai.ch/rock/]. Use the referral code "ROCK" to reduce transaction fees by 0.1% while supporting Bitcoin, Fiat & Rock'n'Roll. Value4Value Podcast Streaming: Support our podcast by listening to our episodes on the Fountain Podcast App. This way, if you wish, you can support us "Value4Value" while listening to the podcast. You can find us on the Fountain Podcast App here: Click here [https://fountain.fm/show/wNv0vSPWzu8Gh7bZTorB] Digital Euro Conference Partnership: BFRR partners with the Digital Euro Conference 2025 taking place on March 27 in Frankfurt. DEC25 brings together leading voices shaping the financial landscape, covering topics around retail and wholesale CBDCs, stablecoins, and tokenized money in general. As an official event partner, BFRR gives away one free ticket for physical participation in Frankfurt. If you are interested, please write us an email to info@bfrr.de [info@bfrr.de] by January 31st. If you are not the “lucky winner”, you get 20% off the ticket prices with the code “BFRR20”. To buy your ticket go to the official website Click here [http://digital-euro-conference.de] and insert the code “BFRR20”. Disclaimer: The content of this podcast reflects the private opinions of the hosts, serves exclusively for general information purposes and does not constitute investment advice. Always remember: Do your own research - inform yourself before making any investment decisions, such as buying Bitcoin. First try to understand what Bitcoin is and how to store it. This podcast does not provide financial advice. Note that the co-hosts might be invested in crypto assets. Read more on our website: Click here [https://www.bfrr.de/disclaimer/] ---------------------------------------- All links marked with "*" are affiliate links. If you use these links for purchase, the podcast receives a small share of the revenue without any additional costs to you. On the contrary, affiliate links often include discount promotions, so you can even save money. We would appreciate it if you use these links to support us. Thank you very much!