Bitcoin (BTC) especially of cryptocurrencies Supporting the view that they are risky assets European Central Bank (ECB) He repeated this approach in a post he published today.
Sharing from X official account The European Central Bank said Bitcoin has failed to become a global, decentralized digital currency.
“Bitcoin has failed to become a global, decentralized digital currency, instead falling victim to fraud and manipulation.”
Bitcoin has failed to become a globally decentralized digital currency, instead falling victim to fraud and manipulation.
The recent approval of an ETF doesn’t change the fact that Bitcoin is costly, slow and inconvenient, argues #TheECBBloghttps://t.co/e9Ek01Dism pic.twitter.com/ddBFsv4g0w
— European Central Bank (@ecb) February 22, 2024
In a blog post addressed by advisors to the European Central Bank, they escalated their criticism and claimed that Bitcoin had failed as a global decentralized currency.
ECB advisors Ulrich Bindseil and Jürgen Schaaf In the article written by, he said:
“The U.S. Securities and Exchange Commission’s approval of spot Bitcoin exchange-traded funds in January is what has been described as “the naked emperor’s new clothes.”
These confirmations did not change the reality of Bitcoin. “Bitcoin is still not suitable as a means of payment or investment.”
The advisors also argue that Bitcoin transactions are still “inconvenient, slow and costly” and that BTC is excluded from criminal activity on the dark web. “almost never used for payments” told.
Consultants on this subject “Even El Salvador, which accepts Bitcoin as a legal currency, has not been able to prove that Bitcoin is a successful means of payment.” said.
ECB advisors finally Bitcoin mining They also touched upon and stated that BTC mining “continues to pollute the environment at the same scale.” They added that higher Bitcoin price means higher energy consumption.
The same ECB advisors also claimed in a post in November 2022 that Bitcoin was “on its last breath.”
*This is not investment advice.
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