Criticism from ECB Experts Prosperity for Early Bitcoin Investors Poverty for Latecomers
The European Central Bank (ECB) Market Infrastructure and Payment Department, together with Senior Management Advisor Jürgen Schaaf, has released a paper on Bitcoin. The paper states that Bitcoin has failed to become a global means of payment and has instead become an investment asset that cannot generate productivity. The rising price of Bitcoin is seen as a zero-sum game, leading to wealth redistribution.
