EddieJayonCrypto
23 Feb 24
The European Central Bank has recently criticized Bitcoin, claiming that it has not proven itself as a financial asset. This has caused controversy within the community, with Cardano Founder Charles Hoskinson expressing his criticism of the ECB. Despite the bank's claims, the community has rejected ...
The European Central Bank has recently criticized Bitcoin, claiming that it has not proven itself as a financial asset. This has caused controversy within the community, with Cardano Founder Charles Hoskinson expressing his criticism of the ECB. Despite the bank's claims, the community has rejected their stance, pointing out that Bitcoin is an open monetary protocol that benefits the environment. This criticism from the ECB has also been seen as a positive sign for Bitcoin, with one proponent noting a substantial rally following the central bank's previous post against the cryptocurrency.
In a blog post on Thursday, ECB Director General Ulrich Bindseil and advisor Jürgen Schaaf argued that the largest cryptocurrency has failed to prove itself as an asset and investment. Adding that Bitcoin is still not used for legitimate transactions, ECB officials claimed, “The fair value of Bitcoin is still zero.”
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