European Central Bank Issues Major Warning About Bitcoin

.ecb has shredded Bitcoin in a recent blog post

, Ulrich Bindseil, director general of market infrastructure and payments at the European Central Bank , and Jürgen Schaaf, advisor to the senior management of the market infrastructure and payments business area of the ECB, predict that Bitcoin is heading toward irrelevance.

Bindseil and Schaaf believe that the recent price stabilization is the"last gasp" before the cryptocurrency eventually plunges lower.crypto empire that sparked the biggest cryptocurrency crisis to date. The largest cryptocurrency has not gained any traction as a means of payment while also failing to perform as a viable investment option. The ECB says that Bitcoin only managed to benefit from waves of new investors who want to speculate on the cryptocurrency's price.

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