Skip to Primary Navigation

Skip to main content

Bitcoin on the road to irrelevance according to ECB Director General

Photo: Getty Images

Thomas Hyrkiel

1 min read
 Click to share on Facebook (Opens in new window/tab) Click to share on Twitter (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

Bitcoin deemed not suitable as a payment system or investment class and ‘should not be treated as either in regulatory terms’.

The stabilisation of the bitcoin price since June 2022 “is an artificially induced last gasp before the road to irrelevance” according to Ulrich Bindseil, ECB Director General, and Jürgen Schaff, an ECB Adviser, who have published a provocative post on the cryptocurrency on the ECB blog today.

The authors point

, , ,