Home Bitcoin News A European Central Bank Blog Decries the End of Bitcoin, and We Aren't Buying It – CoinDesk

A European Central Bank Blog Decries the End of Bitcoin, and We Aren't Buying It – CoinDesk

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A European Central Bank Blog Decries the End of Bitcoin, and We Aren't Buying It – CoinDesk


The next section in the ECB post is titled: “Bitcoin is rarely used for legal transactions.” Unfortunately, the body of the section doesn’t prove this point specifically (a shame, really, because it isn’t true) and instead focuses on how bitcoin’s value is based solely on speculation because a) it has no cash flow (like real estate), dividends (like equities), productivity (like commodities) or social benefits (like gold) and b) VCs are propping it up with $17.9 billion of investment in blockchain and crypto.

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