Posted 2/22/2024, 1:05:38 PM
ECB Dismisses Bitcoin Despite Growing Adoption
- ECB officials say Bitcoin's fair value is still zero despite SEC approval of spot BTC ETFs and over $3B in inflows
- They argue Bitcoin is slow, costly, unsuitable as an investment, and environmentally harmful
- This continues previous ECB criticism calling Bitcoin a "road to irrelevance" and claiming price gains just show "social damage"
- Bitcoin market cap sits at $1T with BTC price around $51,600, up 0.4% day-over-day
- Crypto Twitter users poke fun at ECB's past failed predictions and see criticism as validation of Bitcoin's success