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“The U.S. will not sell any bitcoin deposited into the Reserve. It will be kept as a store of value,” he said in the post.

In a rare public speech in Milan in 2021 Cipollone said that to prevent depositors fleeing to the safety of their digital euro accounts if their bank or country ran into trouble, the digital euro "should be defined in such a way that it is used mainly as a means of payment and not as an investment or a store of value".

Yet its nascent popularity points to interest in bitcoin not just as a store of value or payments method, but as the foundation for developing new coins and applications - previously considered the domain of more modern blockchains such as Ethereum and Solana.

"People who have been using these notes as a store of value may face inconvenience," she said.

They lack practical use beyond speculation, distinguishing them from more "mainstream" coins like bitcoin and ether whose backers say have potential as a means of payment or store of value.