European Central Bank blasts Bitcoin – Community Responds

The central banks are aware their time is coming to an end – funny thing is, they’re not doing themselves any favors by posting blog posts such as “Bitcoin’s Last Stand” as they did today

European Central Bank blasts Bitcoin —community responds

“The European Central Bank (ECB) released a blog post titled “Bitcoin’s last stand” on Nov. 30, which summarized the financial career of Bitcoin amid current price fluctuations. However, instead of outlining the entire picture, which would include both up and downs of the cryptocurrency’s lifespan thus far, it only portrayed its shortcomings.

Written by Ulrich Bindseil and Jürgen Schaaf, the director general and advisor of the ECB, the piece says the digital currency is on ‘the road to irrelevance.’

It also claimed that BTC is hardly used for legal transactions and that the regulatory attention it is currently receiving from lawmakers around the world can be ‘misunderstood as approval.”’Additionally, it warned banks on interacting with the digital currency as it could taint their reputation.”

Of course, Crypto Twitter has come out in force as seen in the article and well, on Twitter


Master Asked on November 30, 2022 in Bitcoin.
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