Vladislav Sopov
Crypto Twitter mocks anti-Bitcoin tirade shared by European Central Bank officials
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European Central Bank officials called Bitcoin a “naked emperor” amid the Bitcoin ETF frenzy in the US. Experienced Bitcoiners commented on the never-ending hostility of the EU's top financial regulator.
Euro collapses against Bitcoin: Crypto Twitter on Bitcoin ETF criticism from the regulatory authority
Renowned venture capitalists and former Coinbase CTO Balaji Srinivasan demonstrated the historical chart of the BTC/EUR pair to prove that Bitcoin (BTC) appears to be a far more reliable store of value than the Euro. In a semi-ironic way, he commented on another stubborn anti-Bitcoin report from the ECB.
Since the launch of Bitcoin (BTC), the euro has lost over 99% of its value against the first cryptocurrency. Srinivasan stated that the EUR has therefore “collapsed” in its pairing with the orange coin.
Another cryptocurrency veteran, VanEck and Tether Limited advisor Gabor Gurbacs, added that only time will tell whether the euro is better than Bitcoin.
He also emphasized that the approval of Bitcoin ETFs should not be ignored by European regulators:
ETF approval in the US is a big deal. You will fall behind if you are against Bitcoin.
Some of the ECB's statements on Bitcoin (BTC) are simply wrong, he added.
As previously reported by U.Today, the ECB regularly publishes dramatic reports criticizing BTC as a form of investment, medium of exchange and store of value.
PoW mining risks, crime financing, price manipulation: battle-tested mantras from the ECB
For example, in November 2023, ECB experts warned that Bitcoin (BTC) was already on the way to becoming irrelevant.
In a new report written by Ulrich Bindseil and Jürgen Schaaf, two senior ECB officials, the regulator falls back on familiar narratives and calls Bitcoin (BTC) “the currency of crime” used to “finance evil.” be used.
Furthermore, according to the ECB, BTC transactions remain slow, costly and cumbersome, while mining Bitcoin using the proof-of-work mechanism continues to pollute the environment to the same extent as entire countries.
About the author
Vladislav Sopov
Blockchain analyst and author with a scientific background. 6+ years in IT analytics, 3+ years in blockchain.
Participation in independent analysis and start-ups (Swap.online, Monoreto, Attic Lab etc.)
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
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