ECB: Bitcoin is not a currency, it rather is an asset

The European Central Bank (ECBhas once again confirmed its position on Bitcoinrefusing to recognize it as a currency.

The ECB said that Bitcoin is rather an asset than a currency, underlining its quite high volatility.

Not once the European Central Bank and its representatives have expressed their opinion about Bitcoin. In May, François Villeroy de Galhau, a French central banker, Governor of the Bank of France, stated that stable coins have more potential than Bitcoin. In the spring of this year, the ECB President called crypto coins a “dubious investment” and stressed that crypto coins are not significant enough to affect the economy at macro level. A similar point of view was previously expressed by his colleague Yves Mersch, a Luxembourgian jurist and lawyer, stating that the cryptocurrency market is not large enough to threaten financial stability.

At the end of the previous yearArdo Hillar Hanssonan Estonian economistthe Governor of Bank of Estoniastated that “the cryptocurrency bubble is ready to burst.”


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