Bitcoin ETF Approval Comparable to ‘Naked Emperor’s New Clothes,’ ECB Officials Say

“The ongoing manipulation of the ‘price’ in an unregulated market without oversight and without fair value, the growing demand for the ‘currency of crime,’ and shortcomings in the authorities’ judgments and measures” will drive the price in the short term, but “there is no fair value from which serious forecasts can be derived,” Bindseil and Schaaf wrote.