European Central Bank against Bitcoin


The European Central Bank issued a statement reiterating its negative assessment of Bitcoin. 

ECB CEO Ulrich Bindseil and Councillor Jürgen Schaafö stated that Bitcoin has never become a currency and is not suitable for investment, and therefore its cost is strictly zero!

The ECB refuses to recommend Bitcoin because it expects it to collapse soon. 




The ECB emphasized that the approval of the Bitcoin ETF does not change its negative outlook. Moreover, the European regulator says that the growth of the crypto market is dangerous and will only lead to losses for investors.


Why is Bitcoin Growing? European bankers have the answer: the reasons for the rally were the US Federal Reserve policy of interest rates, the approval of the ETF and the halving of remuneration for mining.


This is difficult to argue with. And why, in the opinion of Eurobankers, Bitcoin is not suitable as an investment asset? Because it does not yield dividends, trading volumes are relatively small, it has no commercial use, and it has no "social utility".


Anticipating the question as to why Bitcoin is showing long-term stability, the ECB answers that some "Bitcoin Lobby" is to blame.


Moreover, the authors of the statement claim that any rise in Bitcoin is the result of fraud and price manipulation. One of the arguments for this assertion is... a known history of hacking an SEC account on Network X.


In general, the statement of ECB officials is similar to a set of slogans and stereotypes about five years ago. The same was true of Gary Gensler of the SEC and most of the top managers of the investment giants. Currently, Gensler has retained its beliefs, and investors have reversed their positions and are now investing in Bitcoin without fear of its collapse. Is someone might accuse, for example, BlackRock of market ignorance?


Europe seems to be having trouble regulating crypto. This is their choice.


#ECBvsBitcoin #CryptoWarnings #BitcoinOutlook #EurobankersViews #RegulatingCryptoChallenge

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