The ECB said that the latest consolidation in the Bitcoin price is the last gasp before its collapse.
It added that Bitcoin failed to emerge as a means of payment as well as an investment asset and just ended up being a speculation tool.
While Bitcoin and the broader crypto market have come under significant selling pressure this year, the European Central Bank (ECB) took this opportunity to lash out with its criticism of the world’s largest cryptocurrency.
In the latest blog post, the ECB said that Bitcoin has failed to live up to its hype and is standing on its last legs. The central bank said that Bitcoin’s recent price stabilization should not be mistaken as accumulations. Instead, it could be the last-ditch effort to maintain the hype before BTC eventually collapses.
The new blog post “Bitcoin’s Last Stand” has been authored by Ulrich Bindseil, Director General of Market Infrastructure and Payments at the European Central Bank, and his advisor Jürgen Schaaf. The ECB sta

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