The European Central Bank Is Either Lying About Bitcoin or Lying to Itself
ECB Director General Ulrich Bindseil and advisor Jürgen Schaaf are definitely against bitcoin, but their reasons don’t make a lot of sense.
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ECB Director General Ulrich Bindseil and advisor Jürgen Schaaf are definitely against bitcoin, but their reasons don’t make a lot of sense.
“Bitcoin has failed on the promise to be a global decentralised digital currency and is still hardly used for legitimate transfers. The latest approval of an ETF doesn’t change the fact that Bitcoin is not suitable as means of payment or as an investment,” two ECB officials wrote in a blog post.
The U.S. SEC’s approval of multiple spot ETFs and the billions of dollars that have poured in since doesn’t make Bitcoin a good investment or a better means of payment, the central bankers said in a blog post.
Expert witnesses answered lawmaker questions on holding limits, impact on banking systems and privacy for an EU central bank digital currency.
Europe’s “highly efficient” payment systems leave space to address social and financial concerns of a central bank digital currency, Pablo Hernández de Cos said.
The central banker said she wanted to address “conspiracy theories” about government snooping