ECB: Bitcoin is not a currency, it rather is an asset
The European Central Bank (ECB) has once again confirmed its position on Bitcoin, refusing to recognize it as a currency.
The ECB said that Bitcoin is rather an asset than a currency, underlining its quite high volatility.
— European Central Bank (@ecb) July 9, 2019
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 year, Ardo Hillar Hansson, an Estonian economist, the Governor of Bank of Estonia, stated that “the cryptocurrency bubble is ready to burst.”