Criticism from ECB Experts Bitcoin Brings Prosperity to Early Investors but Poverty to Latecomers
Ulrich Bindseil, Director General of Market Infrastructure and Payments at the European Central Bank (ECB), and Jürgen Schaaf, Senior Management Advisor, have jointly released a paper on Bitcoin. The paper states that Bitcoin has failed to become a global payment method and has instead become an investment asset that does not generate productivity. The price increase of Bitcoin is seen as a zero-sum game that leads to wealth redistribution.
